Tag Archives: Li Keqiang

How Big Iron’s mistake cost you billions

Michael Sainsbury As the iron ore price stopped plunging this week — it closed last night at US$47.60, up a measly 30 cents and only a couple of bucks off its 10-year low, and the simple rules of supply and demand dictate that it will slump again — a fresh roadblock has appeared in the way of Australian producers. The

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Chinese economy sneezes, Australian miners catch a bad cold

Michael Sainsbury China’s economy is slowing, and its housing market is in the toilet. While Treasury forecasts suggest everything is fine, underneath the surface the cracks are beginning to show. China’s economic growth in the third quarter was 7.3%  compared with the same time last year — its worst since 2009 — amid a continued downturn in the property

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Iron ore miners wonder who will crumble first

  Michael Sainsbury Iron ore prices are down almost 40% this year, and many miners hope it has hit bottom. But recent events show that their problems may only get worse. Some weaker players are already failing, and experts forecast years of over-supply caused by faltering growth in China, the commodity’s biggest market. Iron ore

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Iron ore price horror: near five year lows

Michael Sainsbury The iron ore price fell below US$89 per tonne today, its lowest mark in almost five years, and it is set to fall even further with China’s housing market – which has underpinned the commodity for the past few years – showing no signs of recovery , despite some stimulus efforts by the

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China’s flailing economy journeys into the unknown

  Michael Sainsbury China’s economy is moving closer to a possible dramatic tipping point as growth continues to slow and overall domestic confidence appears to be sapping. Official figures released today reckon that the economy grew 7.4 per cent on a yearly basis, the slowest pace since 2012 and down from 7.7% last quarter but

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