Insight
Diversifed miners Q3-22 reported results review
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
The basket prices of the iron ore majors suffered in Q3 as a precipitous drop in iron ore prices overwhelmed other price moves. Benchmark iron ore has continued its trajectory so far in Q4, breaking below $80/t in late October. Weakness in China's economy, particularly in the real estate sector, is driving pessimism about the outlook for steel and iron ore. The outlook for many mined commodities is weakened by the lack of large-scale stimulus and the continuation of the zero-Covid policy. The good news is miners appear to have hit an inflection point in cost inflation. While companies reported higher year-on-year costs, cost guidance remained unchanged for most. And operational issues, rather than unit cost inflation, was the driver for most adjustments.
Table of contents
-
Q3 saw falling iron ore prices and further downgrades to guidance
- Please see the Downloads section to access the full report
Tables and charts
No table or charts specified
What's included
This report contains:
Other reports you may be interested in
Asset Report
Fetekro gold mine project (missing region)
A detailed analysis of Fetekro gold mine project.
$2,250
Insight
Copper companies - reported results analysis
Copper companies – reported results analysis: a continued focus on organic growth and project optimisation amid strong production
$1,050
