Iron ore price reverses to losses as weakening China steel consumption drags
Apparent consumption of five major steel products slipped by 2.1% week-on-week.
Forget about precious metals, oil or pork bellies: For commodities traders, iron ore is the new Shangri-La.
According to First Post, as spot markets have evolved to replace the annual pricing model, more traders are needed to buy and sell the crucial steelmaking ingredient.
But with a thin talent pool resulting from decades of control over iron ore pricing by the big three- Rio Tinto, Vale and BHP Billiton – iron ore traders can command high (read six-figure) salaries:
“The key to the demand for iron ore traders is that a large number of merchants and investment banks want to increase their exposure to this new market and there is a relatively limited number of traders out there,” said Richard Usher, a commodity recruiter at Sage international.
An iron ore trader with more than eight years experience can command a basic salary of 200,000-300,000 pounds sterling a year at an investment bank or a big merchant, plus a bonus of up to 200-300 percent his basic salary in a good year, recruiters said.
9 Comments
Stanley Pillay
Hi. I want to sell iron ore. (50% IRON. 1% VANADIUM.
Stanley Pillay
I’m looking for buyers of iron ore. Producing average 20000 tonnes a month in Polokwane mine. R230.00 per tonnage.
E Mail me…[email protected]
Ricardombc10
Hello everybody. My name is Ricardo Medeiros and I locate a 75 km Quadrangle iron in Minas Gerais – Brazil. I have many contacts with mining and iron ore have to sell CIF and FOB. Contact me via SKYPE (ricardombc10) if you want to do good business.
kaya zeki
Sir MS, Please, find Zeki Kaya at skype: zekikaya
MS
How I can know name,address and contact nos of iron ore mines ?
Regards
Ijaz Ahmad
[email protected]
Maziz71
We know you are a brocker in Pakistan
and you want to offer on Chinese buyers with a commission bases
If you have real buyer on hand , we have material to be shippined within 30 days
Contact [email protected]
Chalkoscl
We are a Chilean company interested in JOINT VENTURE. We have IRON ORE, COPPER and GOLD properties. Contact: [email protected]
Ferrasso
I have Iron ore mine! If you have money to invest contact me.Only serious investors,brokers not intertained.
Deykenya
It is an important link to understanding why such positioning keeps the oil burning in the frustrations of visionary small traders like us Concept Creators Limited struggling to swim through the banking system in acceptance to back their capability and capacity it is in this crossfire that today we can focus the reasoning of the bullish behavioral pattern we have always encounter, yet the world political ideology cheered when Margret Thatcher then prime Minister won the academia of free trade now this article does bring the mole above ground. that makes capitalism become the devil of times.
It is this overflow of monetary interest by bankers to infringe out of their spectrum of exercising their monopoly of Financials within the currency regime that they derive the ownership of every angular aspect of this coin as their property it is in this allowance that en-slavery or human rights or political regulations become minuscule in their eyes as they own the trust and right to the word money, it is in this spectrum of belief that derivatives became their tool to maintain. Greek Odyssey Medusa, Hindu Philosophy Mahabharata Kali’s fight with Ravana Holy Bible’s Tower of Babel all relate to these manifestations that bring out the first para of this comment.
I have physical evidence to what I am stating not in conflict or in agitation but invoking the realities of such invisible agenda discriminates and in support of the address by B.O.E. Deputy Governor Mr Paul Tucker 3rd.May 12 Frankfurt EU Central Bank ‘Too Big to Fall’. Speech justifies the need of containing such overflow of capacity that was as said:
“The Central Bank is an institution of the most deadly hostility existing against the Principles and form of our Constitution. I am an Enemy to all banks discounting bills or notes for anything but Coin. If the American People allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the People of all their Property until their Children will wake up homeless on the continent their Fathers conquered.”
— Thomas Jefferson, Founding Father, Third President of the United States, and the principal author of the US Declaration of Independence predicted by -How true as is now happening today in Europe!.
This is the next Microscopic rung where government intervention should direct just as the Leveson Inquiry to give every walk of life a breathing space to catch up and arrest this rat race of debt chasing.
Samarendra Dey
9 Victoria Road,
Nuneaton
Cv10 0LS.