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All it took was breaking below $100, a Chinese rate cut and whoosh: Mad Dalian to the rescue: Coking coal not so much: Alas, Shanghai rebar futures kept falling, which is all that matters. Global pig iron output is not well, via World Steel: Global pig iron production by the blast furnace method amounted to

The post Iron ore fixed! appeared first on MacroBusiness.

More volatility. The Market Ear investigates. NASDAQ – must hold coming up NASDAQ has traded inside a big trend channel since October lows. We have seen tech move from the upper part to the lower part of the channel in basically two trading weeks. We crushed the 50 day yesterday, and are taking out the

The post Stock panic grows appeared first on MacroBusiness.

DXY is holding firm: AUD is being obliterated: North Asia couldn’t save it: Oil up, gold down: Copper is like a daily comedy show: Big miners dead cat bounced: EM false break? Don’t get too bearish. Junk is serene: Yields fell: Stocks down the lift: Credit Agricole wraps us up: According to our models, global

The post Australian dollar eaten by Beijing appeared first on MacroBusiness.

President Joe Biden appeared before Americans Wednesday night to elaborate on the decision announced last week that he would not be seeking reelection for a second term. Commenting on political and historical backdrop to Biden’s remarks, observers John Varoli and Peter Kuznick said they clearly point to a nation and a world in crisis.

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I am super excited that 7-Eleven in Australia is reportedly to become more like 7-Eleven in Japan.

I grew up across the street from one of the first 7-Eleven stores in Australia, and I remember it fondly. It was closer to the Japanese model. It had a deli section and some Aldi-adjacent weirdness going on in the more obscure shelving regions. But eventually, the owner retired, and it went the way of its fellow stores, selling not much more than soft porn and ultra-processed junk foods.

A giant battery project that will help get the national capital get off gas and reach its net zero target has won development approval.

As readers will know, we are downsizing and have three beds to get rid of before we move. While you can sell a bed frame/base fairly easily, it is difficult to sell a mattress, and charities like The Smith Family, The Salvation Army or St Vincent De Paul will not take them. So, the only options seemed to be to take it to a place called Soft Landing in an industrial suburb where they are recycled. Fees apply1, and I have heard from another source that this will cost you about $50. An alternative is to book a bulky waste collection from the kerbside outside your house. This is free for a maximum of two cubic metres per financial year2.

The obscene thing I witnessed was like a parable of the madness of extreme wealth.

By George Monbiot, published in the Guardian 24th July 2024

On a calm and beautiful morning off the coast of south Devon last week, I was watching a small pod of dolphins from my kayak. I had spotted them from half a mile away, feeding and playing on the surface. They were heading my way, so I sat on the water and waited.

Amid the big push to orchestrate consumer energy resources, we talk to Andrew Blaver about the successes and dud notes of Western Australia's Project Symphony.

Federal Labor tips $250 million into upgrading and expanding the electricity grid in the Northern Territory, as it races to get to 50 per cent renewables.

Albert Edwards of Societe General with the note. The June US CPI data surprised investors not just because of the benign data but also because of the unusually extreme reaction it triggered within the equity market. To wit, smaller stocks surged higher but US Tech and the mega-cap ‘Magnificent 7’ took a blow. With the

The post Albert Edwards: On the brink of a Nasdaq crash appeared first on MacroBusiness.

IEEFA with the note. Iron ore’s demand profile set to change in response to steel decarbonisation The current pipeline of announced low-carbon steel projects sees nearly 100Mt of new DRI capacity coming online by 2030 (Figure 1). China already has two commercial-scale DRI-based steel plants up and running. DRI plants can run on green hydrogen rather than gas to

The post Green iron means iron ore in the red appeared first on MacroBusiness.