none
none

IRON ORE MAKES GAINS FOR THE FOURTH DAY IN A ROW

24-02-2016
by 
in 

Iron ore prices have risen for the fourth day in a row, moving it over the threshold of $US50 a tonne, to $50.50, a serious improvement form the $US40 last year.

Macquarie analysts have issued a positive note claiming that iron ore’s fundamentals are looking good in the coming terms, despite the relatively depressed levels.

As reported by Bloomberg, the bank has stated that it has a positive outlook for iron ore, even with the increase in cost, the speed in which the supply has adjusted and the improvement in steel demands.

Less than 30 million tonnes of iron ore will be added by top producers in the 2016 seaborne markets, which is a major decrease in comparison to the 250 million tonnes in the last two years, the bank stated.
The bank says that iron ore prices should steadily do well as seasonal demands for steel improves.

However, the commodity’s rise failed to sustain Australian mining giant BHP Billiton, reporting a first-half loss of $US5.7 billion and scrapping its progressive dividend policy.
BHP shares fell 6.1%, while rival Rio Tinto lost 3.1%.

Related news & editorials

  1. 14.11.2017
    14.11.2017
    by      In
    Australia should be doing more to reach out into the world and build a global export brand. 
    That’s the conclusion of a major review by the Committee for Economic Development of Australia (CEDA) report, and its conclusions are supported by export data, and comments from Christopher Pyne. 
    The CEDA... Read More
  2. Manufacturing grows despite automotive closures
    01.11.2017
    01.11.2017
    by      In
    Australian manufacturing continued to grow in October, despite the closure of both the country’s remaining automotive assembly plants. The Ai Group’s Australian PMI came in at 51.1 for the month, a figure that is still indicative of growth, albeit at a much-reduced rate than in recent months.
    It... Read More
  3. Celebrations in Copenhagen
    17.10.2017
    17.10.2017
    by      In
    Nilfisk has been successfully listed as an independent company on the Copenhagen Stock Exchange. To mark the event on 12th October, the leadership team, led by CEO Hans Henrik Lund, rang the opening bell to mark the historical milestone in the company’s history.
    “Nilfisk has successfully been a... Read More
  4. Senator the Hon Michaelia Cash
    09.10.2017
    09.10.2017
    by      In
    The Acting Minister for Industry, Innovation and Science, Senator the Hon Michaelia Cash, has launched the second round of the Australian Government’s $8 million Women in STEM and Entrepreneurship (WISE) grants programme, which is open to businesses, not-for-profits, education and research... Read More