SSE Composite Index UP 0.14% RIO NYSE UP 0.78% BHP NYSE UP 0.05%...

SSE Composite Index UP 0.14%

RIO NYSE UP 0.78%
BHP NYSE UP 0.05%
VALE NYSE DOWN -0.62%
CLF NYSE UP 2.18%

Platts spot price 62% Fe Down $1.10 now $94.30/dmt US

Platts spot price 62% Fe Down $1.67 now $99.87/dmt AUD

Juniors will have to slash price to export low-grade ore: Walsh

Speaking at The Australian & Deutsche Bank Business Leaders Forum in Perth yesterday, the head of the world’s biggest iron ore miner said a strong commitment in China to tackling the country’s pollution problems, coupled with years of rising supply, meant lower-grade material out of Australia would find it more and more difficult to find buyers in China. Iron ore heavyweights Rio Tinto and BHP mine a greater proportion of high-grade material compared with rivals such as Fortescue Metals and Atlas Iron.

http://www.theaustralian.com.au/business/in-depth/juniors-will-have -to-slash-price-to-export-lowgrade-ore-walsh/story-fnivd8cj- 1226999271092?nk=167a69e5e48794099d22a23414aa7ab5#


Port Hedland Tug Deckhands Approve Strike a Second Time

http://www.bloomberg.com/news/2014-...nds -approve-strike-action-a-second-time.html

A lot can go wrong for AGO today!
If the report is even worse than expected than this morning won't be pretty!
Then we have the hurdle of the Chinese PMI late morning!

Alternatively if the report is better than expected and the PMI meets expectation then AGO may well survive the day unscathed. If the report is not to bad they usually release it at 9.30am, if it is a real shocker they usually wait until just before the market opens so we can't get a good look at it on time!

Very bloody hairy AGO!