Iron Ore Price, page-15949

Wow, only away for a day and so much posted, hehe, a poll already for dividend?? The half yearly is more than 6 weeks away.

Metal Bulletin’s 62% Fe Iron Ore Index Today: $76.25 per tonne cfr QIngdao Daily change: down $2.68 per tonne

Metal Bulletin’s 58% Fe Premium Index Today: $68.63 per tonne cfr QIngdao Daily change: down $0.95 per tonne

Smaller drop in 58% Premium, now trade at 10% discount to 62%.

US DOW edge closer to 20000 after the job report released last night. Stronger USD coupled with stronger yuan saw commodity stocks dropped in overseas market.

Nonfarm payrolls grew by 156,000 jobs in December a number that missed expectations but was overshadowed by a sharp gain in wages. Average hourly wages jumped 10 cents to $26, representing a 2.9 percent annualized gain. Strong year ahead for the US and hopefully the world can ride with it.

China launched its longest bullet train on Thursday from Kunming, capital of southwest China‘s Yunnan Provice to Beijing, expanding its high speed train network to about 20,000kms connecting almost all provinces. Then we have Kunming to Laos construction in full swing now, expect to finish in 5 years. The China-Laos railway is the first overseas railway project with China as the main investor and joint operator. It will connect directly with China’s existing railway network, with the entire line adopting Chinese technical standards and utilising Chinese equipment. Now Thailand is also keen to do the same. More countries to come.

China recently announcing plans this month to increase its high-speed railway service by 50%—to 30,000 kilometers from the present level of 20,000 kms—by 2020. The country already already claims 65% of the world's high-speed rail trackage. The country now has 124,000 km of tracks of varying speeds. The National Development Reforms Commission has envisioned total network to grow up to 175,000 km by 2025. More iron ore, anyone?

China - Tianjin – massive $17.6bn investment committed by 20 state enterprises to develop Tianjin area into mega-city. Beijing is keen to move industry out of the capital to Tianjin and the new mega city which is currently known as Jing-Jin-Ji.

IO Future 540 yuan -7 or 1.28%.

US market:
DOW 19963 +0.32%
BHP -1.49%
RIO -2.37%
Vale -3.73%
Cliffs -2.87%
Fortescue FSUGY -1%

DYOR.

Frank.