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. Lots of moneyb
    06.02.2018
    06.02.2018
    by      In
    Confidence continues to rise as Australian businesses predict healthy profits well into the year, according to illion’s latest Business Expectations Survey. The preliminary survey for the June quarter sees the Business Expectations Index rising by 31% over the previous year.
    Business confidence has... Read More
  2. Australian manufacturing
    01.02.2018
    01.02.2018
    by      In
    The inexorable rise of the Australian Performance of Manufacturing Index during 2107 has continued into the new year with production leading the way. The AI Group’s Australian PMI has come in at 58.7 in January 2018, showing an increased level of growth, and the production subindex jumped to 62.7,... Read More
  3. Belgian cement works
    31.01.2018
    31.01.2018
    by      In
    Australian technology company, Calix, has secured EUR3.4 million in working capital from Efic to build the CO2 capture facility for the Low Emissions Intensity Lime and Cement (LEILAC) project in Belgium.
    Efic, the Australian Government’s export credit agency, is a specialist financier that... Read More
  4. Lots of money
    24.01.2018
    24.01.2018
    by      In
    This year looks likely to be the last chance for small businesses to take advantage of the Federal Government’s $20,000 instant asset write-off. So any business with an annual turnover of less than $10 million has until 30th June 2018 to make a qualifying investment.
    The scheme originated in the... Read More