Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Good morning, iron ore futures US$125.50:
https://twitter.com/CommSec/status/1632837710326153218
Good morning, iron ore futures rose by US22 cents or 0.2% to US$127.02 a tonne yesterday following the removal of production curbs in Chinese steel-making cities:
https://twitter.com/CommSec/status/1631386360442658816
Good morning, iron ore futures rose by US$1.05 or 0.8% to US$126.80:
https://twitter.com/CommSec/status/1631027268918337536
China Manufacturing ReboundsChina Manufacturing PMI
The Caixin China General Manufacturing PMI increased to 51.6 in February 2023 from 49.2 in January, above market consensus of 50.2. This was the first increase in factory activity since last July, and the highest reading in 8 months, after a shift in COVID policy. Output grew for the first time in 6 months, with the rate of expansion the steepest since June 2022. New orders expanded for the first time in 7 months, and at the fastest pace since May 2021, and new export orders rose for the first time in 7 months. Employment climbed for the first time in 11 months, while backlogs of work increased at the quickest rate in 16 months. Meanwhile, buying levels rose for the first time in 4 months, and at the fastest pace since June 2021. Delivery times improved and to the greatest extent in 8 years. On inflation, both input and output cost inflation accelerated. Finally, sentiment improved to a 23-month high, amid expectations of a sustained recovery in customer demand.
Good morning, iron ore futures US$125.75:
https://twitter.com/CommSec/status/1630643920114954240
Good morning, iron ore futures = US$125.74:
https://twitter.com/CommSec/status/1630291981888004097
Good morning, iron ore futures rose by 15 cents or 0.1% to US$125.92 a tonne yesterday on expectations for a faster recovery in Chinese steel consumption:
https://twitter.com/CommSec/status/1628852753887002624
Good morning, iron ore futures lifted US$1.40 or 1.1% to US$126.34 a tonne yesterday:
https://twitter.com/CommSec/status/1628125189203693568
That would be most welcomed. I am desperate to increase my position here, but I have no issues doing so north of 2400p
Bhp is now sitting at a premium price overbought on results. It has a lot to do to prove this price or it’s going to.be in free fall back to 2400p i would say.
Watch RIO tomorrow.
GLA
BHP reported a sharp drop in interim profit, mostly due to falling prices for iron ore and copper, as it put two Queensland coal mines up for sale. In its half year to December 31, the Australian mining company said revenue fell 16% to USD25.71 billion from USD30.53 billion a year before. The decline was mostly the result of lower realised prices for iron ore and copper, BHP said.
Attributable profit dropped 32% to USD6.46 billion from USD9.44 billion, while basic earnings per share came in at 127.5 cents, down sharply from 186.6 cents. Pretax profit fell 30% to USD10.18 billion from USD14.49 billion.
By Elizabeth Winter, Alliance News senior markets reporter
Comments and questions to newsroom@alliancenews.com
Highest price since June 2022
90c a share divi, equats to 75p!
Good morning, iron ore futures rose by 0.6% to US$126.90 a tonne in Singapore trade on Monday on hopes for better demand in China:
https://twitter.com/CommSec/status/1627749086077267970
Interims should be out 9.30 pm UK time.
Production volumes and pricing are know. The cost of the recent acquisition is known.
The market will be looking at the level of ongoing debt BHP want to carry - c$10b from memory.
I don't expect the dividend to be maintained as BHP has moved from the progressive dividend model to a capital allocation model. But the analysts will be attempting to 'read the tea leaves' of the announcement for clues to further M&A activity.
Tonight's CNBC Asian coverage normally gives better insight into BHP and analyst views than your likely to see on tomorrow morning's coverage.
Word seems to be it will be 40% down on last year.
In the early hours of tomorrow we can pick up the Interims to be released about 8.30 Australian time.
Hoping the dividend is maintained at least?
Good morning, iron ore futures lifted US25 cents or 0.2% to US$124.94 a tonne on Friday:
https://twitter.com/CommSec/status/1627378106851016705
Give it a rest Max
Good morning, iron ore futures lifted US35 cents or 0.3% to US$124.69 a tonne yesterday as traders bet that the Chinese government will lift support for the economy, helping steel demand recover:
https://twitter.com/CommSec/status/1626326625280483328
Sorry, but that’s a rather dumb answer. Don’t go on other peoples answers. Do your due diligence and you will find out yourself what’s happening.
Good morning, iron ore futures lifted US14 cents or 0.1% to US$124.34 a tonne yesterday:
https://twitter.com/CommSec/status/1625956264781185024
Which is lower than it was 2 weeks ago
Good morning, iron ore futures lifted US44 cents or 0.4% to US$124.20 a tonne yesterday:
https://twitter.com/CommSec/status/1625581284268580864
But Max says iron ore prices are rising every day !