Iron Ore Routed as 'Center of Gravity' Seen in Constant Decline
Iron ore is in full-scale retreat, with futures in China plunging to end limit-down on investor concern about the outlook for demand in the world’s top user, fresh signs of burgeoning supply from Australia and the hostile backdrop of a broad-based sell-off in base metals.“Iron ore’s center of gravity is constantly moving lower,” said Zhao Chaoyue, an analyst at China Merchants Futures Co. “Concerns about the glut have always been there. Port stockpiles are maintaining near a record and there’s ..>> view originalHolden posts a profit for 2016
Holden posts a profit for 2016Australian Associated Press7:50PM May 4, 2017SaveCar producer Holden has posted a $152.8 million after-tax profit for 2016 as it prepares to close its local manufacturing operations later this year.The company says it made $125.5 million on its manufacturing business and $27.3 million on its national sales operations.But it says the result came on the back of a $128.1 million payment from its parent company General Motors and it also received $51.4 million from the ..>> view originalNAB chief Andrew Thorburn warns of apartment glut
Rio Tinto blasts Queensland power companies for 'gaming' price
RBA: sharp housing drop would shock economy but not banks
Australian dollar taken to the cleaners
by Timothy Moore The Australian dollar dropped overnight, falling near a four-month low, as copper paced base metals sharply lower in London and iron ore futures in China tumbled.The local currency "has been taken to the cleaners", said IG Markets's institutional dealer Chris West. The Aussie fell 1.5 per cent to US74.21¢, its lowest since January 11.Mr West said while there was no smoking gun, one potential trigger for the drop could be that an international money..>> view originalVictoria facing power chaos as union stoush explodes
New fears for Hunter Valley horse studs as Drayton South mine sold
Qantas still flying high despite forecast profit dip
Don Argus slams Elliott Management bid for BHP overhaul
Monday, May 29, 2017
Iron Ore Routed as 'Center of Gravity' Seen in Constant Decline and other top stories.
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