• All
  • Articles
  • Squawks
  • Trade views
  • Must reads
  • Videos
  • Calendar
Write a Squawk
No posts
  • Editor’s Picks / 09 March 2016 at 23:10 GMT

    Iron ore price take a tumble on oversupply reality check

    The Sydney Morning Herald
    Iron ore dropped on Wednesday, eroding Monday's record 19% surge, amid a revival in concern that global supply is outpacing demand. Ore delivered to Qingdao fell 8.8% to $58.02 a tonne. The global ore market is grossly oversupplied, demand in China is faltering and there's a severe glut of steel, according to Li Xinchuang from the China Iron & Steel Association. Li, whose group represents the top mills in the country that makes half of the world's steel, said recent gains probably won't last. This week's gyrations had been driven by shifts in futures in China, according to Lourenco Goncalves from Cliffs Natural Resources, the top US producer.
    Read article on The Sydney Morning Herald
    Go to post
  • Editor’s Picks / 03 March 2016 at 2:43 GMT

    Samarco to pay $2.3bn over 2015 dam collapse

    Mining company Samarco, which is half-owned by BHP Billiton, has agreed to pay the Brazilian Government $2.3 billion ($A3.2 billion) for a dam collapse that killed 19 people in November last year. Thuy Ong writes the collapse destroyed livelihoods and villages, leaving hundreds of people homeless and poisoning a major river. BHP's total contribution for the disaster will be $1.15 billion. Samarco will fund the recovery program with $500 million in 2016 and $300 million in 2017 and 2018.
    Read article on ABC
    Go to post
  • Editor’s Picks / 22 January 2016 at 2:16 GMT

    Samarco, Brazil move closer on $4.8bn dam-disaster settlement

    Brazil's government and Samarco Mineracao moved closer to a deal to settle a 20 billion-real ($4.8 billion) lawsuit for damages related to a deadly November dam disaster, Brazil's attorney general said. The two sides met in Brasilia on Thursday and talks have "advanced significantly" with the likelihood that the outline of an accord can be completed by early February. Brazil sued Samarco, a 50-50 joint venture between Brazil's Vale and Australia's BHP Billiton, for 20 billion reais ($4.8 billion) after an iron ore tailings dam burst. If agreement is reached and financing is provided for 38 actions agreed to on Thursday to resolve the social and environment impact of the disaster, Samarco would be allowed to restart operations.
    Read article on CNBC
    Go to post
  • Article / 30 November 2015 at 16:30 GMT

    Hard-hit iron ore erodes value of major miners

    Managing Partner / Spotlight Group
    United Kingdom
    Hard-hit iron ore erodes value of major miners
    The brutal slump in commodities has been particularly hard on miners of iron ore who have seen prices drop below $40/tonne and face further pressure from the economic slowdown in China and extreme oversupply. The leading miners have nevertheless kept supplying the market to protect their market shares, and 2016 looks likely to be another difficult year though the market is rebalancing.
    Read the article
    Stephen Pope Stephen Pope
    Good to make your acquaintance as well.
    andrewloz andrewloz
    I believe you have nailed it there. It will be a long and rocky road to decent ore prices from here I suspect, with some pretty...
    island2015 island2015
    thank you
  • Article / 25 November 2015 at 12:00 GMT

    Daily Shot: Markets jolted by downing of Russian jet Team / Saxo Bank
    Daily Shot: Markets jolted by downing of Russian jet
    International tensions escalated after Turkey shot down a Russian jet, with the Turkish lira falling and Turkish bond yields rising. Crude oil and gold prices rose in response to the worries. And elsewhere, the chances of a US interest rate hike in December are now seen at 74%, the futures market shows.
    Read the article
  • Editor’s Picks / 12 November 2015 at 6:46 GMT

    Brazil vows to make BHP pay for mine disaster

    The Guardian
    BHP Billiton faces worsening fallout from the Samarco mine dam disaster after the Brazilian government said the Anglo-Australian mining giant could face a fine for the “environmental catastrophe”. As BHP’s share price in Australia pushed near 10-year lows on Thursday, the government in Brasilia has become increasingly concerned over the rising death toll and contaminated mud flowing through two states as a result of the disaster. It is studying permits for the mine – co-owned by BHP and Vale – and will ensure the companies pay for cleanup costs.
    Read article on The Guardian
    Go to post