Friday, September 26, 2014

Some news for Friday


I had more newsbits saved, but some of them were crap, so I whittled the reading down to these four:


Bespoke - chart notes. I found this chart most interesting:


It says that the S&P 500 isn't actually grossly overvalued. But hey, feel free to sell it down 200 points, guys.


New Deal Demoncrat - ha, 4.6% GDP, I told you so, I'm awesome. Go ahead and toot your horn.


FT beyond brics - blah blah commodities blah blah EMs. Note that Peru is an "industrious ant" with nothing to worry about, according to this guy. Cue IKN outrage in 3, 2, 1....


Mineweb - blah blah China blah blah iron ore. Here was the bit that sparked my interest:
Vale is on course to raise its production to about 450 million tons in 2018 from about 300 million tons last year, Alves said. The company’s average production cost in Brazil is about $22 a ton, which could fall to $18 after mine expansions, he said. The company may trim as much as $6 off transportation costs to China if its ports allow very large ore carriers to berth, he said.
Like the CEO said years ago: Vale can happily producer iron ore for a $30/t market. So how long did you think iron ore could stay above $100? Iron's not exactly in short supply, y'know.

2 comments:

  1. I saw pumpers like Grandich peddling iron ore junior Alderon over the last few years. I always thought iron prices were unsustainable and couldn't understand the case for an iron junior. The majors have more ore in the ground than they can mine in our lifetimes as it is.

    ReplyDelete
    Replies
    1. ADV's not actually down too bad, compared to your typical junior gold.

      But yeah, I never really knew anything about prices, but I'd still laugh at trying to develop anything in Labrador. Yes yes yes, good idea, let's go 1000 miles from civilization to dig up rock that's buried under 20 feet of snow every winter. Literally. They get a minimum 20-foot snowpack every winter. That is only one of the myriad reasons nobody fucking lives in Labrador, nor will they ever. It's literally where you go to get away from it all.

      Delete