Iron ore price, page-13490

I agree. L2019 thought so last night too.

Brutchu is becoming more of a joke than a couple claiming they are in a serious relationship even though they have been on and off all year.

Nameplate might be 30mt but ramping up to that level may not even possible or safe without compromising the safety of the nearby dam.

It might take time to get output going in any case, cartage to port and then get the ore to China. It wouldn’t be before Sep before any of the additional 20mt approved (10mt run rate capacity was already approved) would hit the ports in China.

Rio downgrades in both quantity and quality is going to hit the mkt here and now especially at a time when arrival numbers into China are poor, IO stocks depleting quickly, mills holding low IO stock and output still at or near record levels. Stimulus is the buzz word not just in China but in most of the larger economies (EU and US thru monetary easing)

It seems there are plenty of operational issues to resolve at Rio and it may not be an immediate fix. Also I posted recently that SP10 from Rio (similar to SSF) now demanding tiny discount of 6%, which could be precursor to next round of SSF and FB pricing for next month, which will be announced at anytime now.

Dalian after opening lower last night quickly got back to all time high. FMG is in the box seat here

Cheers