iron-ore-report_May 13.pdf
iron-ore-report_May 13.pdf
iron-ore-report_May 13.pdf
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
VIZAG<br />
VIZAG<br />
VIZAG<br />
VIZAG<br />
VIZAG<br />
MAGDAL<br />
LA<br />
MAGDAL<br />
LA<br />
MAGDAL<br />
LA<br />
BRILLIANT<br />
JOURNEY<br />
IRIS HALO<br />
GMT PHOENIX<br />
CHANDI<br />
PRASAD<br />
LARK<br />
BLUE SEND<br />
GEM OF<br />
PARADIP<br />
RAM PRASAD<br />
13 FINES RT<br />
13/<strong>May</strong>/<br />
13<br />
14/<strong>May</strong>/<br />
13<br />
19/<strong>May</strong>/<br />
13<br />
9/<strong>May</strong>/1<br />
3<br />
8/<strong>May</strong>/1<br />
3<br />
4/<strong>May</strong>/1<br />
3<br />
3/<strong>May</strong>/1<br />
3<br />
Source: Samsara data & port<br />
IRON ORE<br />
FINES<br />
IRON ORE<br />
FINES<br />
IRON ORE<br />
FINES<br />
IRON ORE<br />
PELLETS<br />
IRON ORE<br />
FINES<br />
40000<br />
57000<br />
16000<br />
13500<br />
0<br />
39400<br />
IRON ORE 46000<br />
IRON ORE 41000<br />
IRON ORE<br />
11000<br />
0<br />
EXPO<br />
RT<br />
EXPO<br />
RT<br />
EXPO<br />
RT<br />
EXPO<br />
RT<br />
EXPO<br />
RT<br />
IMPO<br />
RT<br />
IMPO<br />
RT<br />
IMPO<br />
RT<br />
VIZAG / RUNGTA REVERT<br />
VIZAG / RUNGTA REVERT<br />
VIZAG / GLOBAL REVERT<br />
HAZIRA ESSAR ESSAR<br />
MUMBAI JSW ISPAT JSW ISPAT<br />
PARADIP<br />
ESSAR<br />
PARADIP<br />
EBTL<br />
VIZAG<br />
ESSAR<br />
Divergent market voices<br />
‣ The increase in global supply may take longer than expected, while demand in China may be<br />
sustained into 2014, Morgan Stanley said in a <strong>report</strong>. The bank said in April that the global<br />
seaborne market will shift into surplus from 2015, revising a January f<strong>ore</strong>cast of supplies<br />
outpacing demand in 2014. “Market concerns over the sustainability of strong <strong>iron</strong> <strong>ore</strong> prices<br />
are focused on the prospect of an excess of supply coming to market in 2013 and 2014,”<br />
analysts Joel Crane and Peter Richardson wrote in the <strong>report</strong>, referring to expansions such as<br />
the Pilbara operations. “While an increase in mine capacity is well understood in the market, the<br />
timetable of ramp-up into that capacity is not.”<br />
‣ Iron <strong>ore</strong> prices will go into structural decline in the long term as the market moves into<br />
oversupply in 2014-2015, Goldman Sachs Group Inc. said in a <strong>report</strong>, f<strong>ore</strong>casting an average of<br />
$115 a ton in 2014.<br />
‣ “Chinese macro data has been worse than expected,” Daniel Hynes, Sydney-based head of<br />
commodity strategy at CIMB Group Holdings Bhd. (CIMB), told Bloomberg. Rio Tinto Group’s<br />
planned expansion of its <strong>iron</strong> <strong>ore</strong> operation in Australia “brings focus back on the supply side<br />
which, from an Australian point of view, is growing strongly,” he said.<br />
‣ Prices will decline as supplies expand faster than demand over the long term, Alan Chirgwin,<br />
general manager of <strong>iron</strong> <strong>ore</strong> marketing at BHP Billion Ltd. (BHP), told Bloomberg. Low-cost<br />
supplies mainly from Australia and Brazil will replace m<strong>ore</strong> expensive output and eventually<br />
exceed Chinese demand, he said.
Change language