African Min. Share Discussion Threads

[warwick69] 14/11/2014 08:13

Another fantastic start to the day last trade yesterday was a 250,000 buy at 12.5 and now we hitting 11p on the bid this is crazy relentless drive to push this lower why????? Who has an agenda here

[warwick69] 14/11/2014 07:35

After a string of down-days the iron ore price managed to make slight gains on Thursday as steel mills restart production after the conclusion of a global leaders summit in Beijing.

The CFR 62% Fe 2% Al benchmark import price at the port of Qingdao tracked by The SteelIndex was pegged at $76.70 a tonne on Tuesday, up 10c on the day.

The price of iron ore dropped to a fresh nearly five-and-a-half year low earlier this week blamed on Beijing's efforts to clean up smog to host the Asia-Pacific Economic Cooperation summit, forcing steel mills in Hebei province, the country's steel producing hub to curb production and idle sintering plants.

Platts quotes a Shanghai-based trader as saying the lost output "should come back online pretty quickly":

"However, ore demand remained subdued as some mill sources thought they might be asked to reduce output again if pollution returned."

Because spot prices are low enough now, most people want to try to buy better quality material with lower impurities"
Because Chinese ore is of such a low quality most Chinese fines require sintering (fines are mixed with coking coal and partially smelted) before being fed into blast furnaces.

Sintering adds to the environmental impact and costs which does not fit well with Beijing's green agenda and plans to eliminate overproduction in the steel sector.

China's steelmakers have been substituting domestic supply and reducing the percentage of fines in favour of pellets and so-called "lump" ore from Australia, South Africa and South America which lowers costs and cut pollution by reducing the need for sintering.

According to a Beijing-based trader because spot prices are "low enough now, most people want to try to buy better quality material with lower impurities," with traders preferring Australian fines with lower silica levels as compared to some Brazilian grades.

Premiums for high-quality lump last week hit the highest since March according to Platts data.

Spot seaborne iron ore lump premiums rose to $0.215 per dry metric tonne unit, translating into an effective price of some $89 a tonne for 62% Fe

[warwick69] 14/11/2014 07:35

After a string of down-days the iron ore price managed to make slight gains on Thursday as steel mills restart production after the conclusion of a global leaders summit in Beijing.

The CFR 62% Fe 2% Al benchmark import price at the port of Qingdao tracked by The SteelIndex was pegged at $76.70 a tonne on Tuesday, up 10c on the day.

The price of iron ore dropped to a fresh nearly five-and-a-half year low earlier this week blamed on Beijing's efforts to clean up smog to host the Asia-Pacific Economic Cooperation summit, forcing steel mills in Hebei province, the country's steel producing hub to curb production and idle sintering plants.

Platts quotes a Shanghai-based trader as saying the lost output "should come back online pretty quickly":

"However, ore demand remained subdued as some mill sources thought they might be asked to reduce output again if pollution returned."

Because spot prices are low enough now, most people want to try to buy better quality material with lower impurities"
Because Chinese ore is of such a low quality most Chinese fines require sintering (fines are mixed with coking coal and partially smelted) before being fed into blast furnaces.

Sintering adds to the environmental impact and costs which does not fit well with Beijing's green agenda and plans to eliminate overproduction in the steel sector.

China's steelmakers have been substituting domestic supply and reducing the percentage of fines in favour of pellets and so-called "lump" ore from Australia, South Africa and South America which lowers costs and cut pollution by reducing the need for sintering.

According to a Beijing-based trader because spot prices are "low enough now, most people want to try to buy better quality material with lower impurities," with traders preferring Australian fines with lower silica levels as compared to some Brazilian grades.

Premiums for high-quality lump last week hit the highest since March according to Platts data.

Spot seaborne iron ore lump premiums rose to $0.215 per dry metric tonne unit, translating into an effective price of some $89 a tonne for 62% Fe

[warwick69] 14/11/2014 07:35

After a string of down-days the iron ore price managed to make slight gains on Thursday as steel mills restart production after the conclusion of a global leaders summit in Beijing.

The CFR 62% Fe 2% Al benchmark import price at the port of Qingdao tracked by The SteelIndex was pegged at $76.70 a tonne on Tuesday, up 10c on the day.

The price of iron ore dropped to a fresh nearly five-and-a-half year low earlier this week blamed on Beijing's efforts to clean up smog to host the Asia-Pacific Economic Cooperation summit, forcing steel mills in Hebei province, the country's steel producing hub to curb production and idle sintering plants.

Platts quotes a Shanghai-based trader as saying the lost output "should come back online pretty quickly":

"However, ore demand remained subdued as some mill sources thought they might be asked to reduce output again if pollution returned."

Because spot prices are low enough now, most people want to try to buy better quality material with lower impurities"
Because Chinese ore is of such a low quality most Chinese fines require sintering (fines are mixed with coking coal and partially smelted) before being fed into blast furnaces.

Sintering adds to the environmental impact and costs which does not fit well with Beijing's green agenda and plans to eliminate overproduction in the steel sector.

China's steelmakers have been substituting domestic supply and reducing the percentage of fines in favour of pellets and so-called "lump" ore from Australia, South Africa and South America which lowers costs and cut pollution by reducing the need for sintering.

According to a Beijing-based trader because spot prices are "low enough now, most people want to try to buy better quality material with lower impurities," with traders preferring Australian fines with lower silica levels as compared to some Brazilian grades.

Premiums for high-quality lump last week hit the highest since March according to Platts data.

Spot seaborne iron ore lump premiums rose to $0.215 per dry metric tonne unit, translating into an effective price of some $89 a tonne for 62% Fe

[cantrememberthis2] 13/11/2014 21:39

agreed with anz for calendar year 2014 $70/t as low

[shimmysham12] 13/11/2014 19:46

Yep proven liar who said the price would go below 10p. I bow to u and your high Ami average price. If only I had your share dealing skills my average would be a lot higher. Bad investors tend to be scared of other opinions, Lol.

[mcyi9gl2] 13/11/2014 19:27

Sorry I see you meant sham, yeah he's a clown too

[mcyi9gl2] 13/11/2014 19:25

Enlighten me my friend

[nosnibord] 13/11/2014 19:24

Who cares what you think, sham. You're a proven liar like the robot.

[shimmysham12] 13/11/2014 18:48

Cant see this going much higher than 15p till finance confirmed and io price above 80 dollars. Long term hold.

[tommy107] 13/11/2014 17:17

wheres that mug bad robot. filthy bastad

[humbugg] 13/11/2014 17:01

warwick,
ebola a thing of the past now that bob, boneo, and the crowd are on the case
;-))

[humbugg] 13/11/2014 16:58

stuart little 13 Nov'14 - 08:58 - 3420 of 3480 1 0

I've read and re-read the RNS and can't see all the positives that others are. Phrases such as ongoing operating losses, continued pressure over debt repayments, no certainty over the timing of the further $102m drawdown, alternative funding being negotiated (placing??). I am long here as I believe there is a future and the share price will be multiples higher in 6 months but can't see anything in yesterdays RNS to warrant the overnight excitement of the 30p tomorrows.....

good post stuart. i myself looked at the RNS and saw too many ifs and couldnt see why this would double as most of the bulls were suggesting. i expect this to drift down without REAL FUNDING NEWS.

[casual47] 13/11/2014 16:51

What could be the hold up for releasing Q3 RNS?

[hdb] 13/11/2014 16:41

I think the Barclays spreadsheet will be fairly accurate and backs up the strategy that they need to get the iron ore contrent to 62%, find customers in Europe saving $10 per tone on shipping and reducing the debt.... If they can do this quickly then they may be a sustainable business and get to a small profit until the iron ore market improves. They rearly need iron order to recover to $100 for this to be a growth poortunity. All they can do is buy time and hope. The market needs other miners to fail quickly

[substp] 13/11/2014 16:19

How sad this is because I know the skills in SL that are needed will not be found there....... at least not in the short term until the population is educated....

[casual47] 13/11/2014 15:36

Hmmmmm

"Strike complicates Sierra Leone Ebola battle"

[casual47] 13/11/2014 15:35

Unfortunately not where it matters for us....in Sierra Leone

"The World Health Organization says there are signs infections have slowed overall in Liberia and Guinea, while the outbreak in Sierra Leone is getting worse."

[warwick69] 13/11/2014 15:32

Another fall in number of Ebola cases reported so that issue will lift soon another reason to hold or buy more

[broncowarrior] 13/11/2014 15:23

Based on there being no IO price improvement over the next 3 years and that being the avg price. Really is worst case. Also doesn't take into account a higher quality product. Good to see it laid out like this though.

[forwood] 13/11/2014 15:20

Most of the improvements are future facing. That table probably reflects the current situation, due to be reported on. Regrettably also, IIs are probably more likely to listen to Barclays than BB heroes.