Iron Ore

Large rebound in Chinese imports; break even lowered for iron ore producers; oil risks growing; coking coal finally rallies; supply reductions beginning for nickel.

A Fed rate hike now looks less of a possibility in June following last night’s statement release. Dow up 51. (Accessible only for subscribers before 10:15 AEST)

Wall Street was quiet last night ahead of after-the-bell earnings reports and central bank meetings in coming days. Dow up 13. (Accessible only for subscribers before 10:15 AEST)

Wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.

There was little surprise on Wall Street last night when indices fell back somewhat after the strong run up. Dow down 113. (Accessible only for subscribers before 10:15 AEST)

BHP Billiton, like peer Rio Tinto, has opted for the value over volume proposition in iron ore and puts in place a two-year rail maintenance program in Western Australia.

Rio Tinto attributed a reduction in its Pilbara iron ore guidance for 2017 to the AutoHaul project but several brokers suspect it is more about value over volume.

Wall Street continued to drift higher last night on low volume as oil prices again rallied. Dow up 42. (Accessible only for subscribers before 10:15 AEST)

The S&P500 is back at 2100, as it was in February last year. Dow up 49. (Accessible only for subscribers before 10:15 AEST)

Oil fell, slightly, but energy stocks led the Dow up through 18,000 with a 106 point gain. (Accessible only for subscribers before 10:15 AEST)