Article: Iron ore’s most volatile week: How we got here and what comes next

Article - Media, Publications

Iron ore’s most volatile week: How we got here and what comes next

Peter Hannah, 18 May 2021

How did we get here? Of course, steel demand and iron ore supply do not change by multiple percentages over these daily timeframes. Mature markets trade as much on expectation as on current fundamentals, and changes in sentiment triggered by news and gossip can drive jarring session-to-session swings. However, panning out to a noise-reducing resolution, the explanations for iron ore’s current high price levels are very apparent.

Regular attendees to industry conferences in recent years will have repeatedly heard the major iron ore producers laying out supply plans based on anticipations of Chinese crude steel production reaching the mythical 1-billion-tonne-per-year mark by 2025 at the earliest. Not only was that level exceeded a full five years sooner in 2020, but various production issues meant that iron ore supply also undershot projections. Continue reading “Article: Iron ore’s most volatile week: How we got here and what comes next”

Article: Feds: 2nd Cali Man Laundered $560,000 Stolen From Bergen Man, $285,000 In Gov’t Loan Scheme

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Feds: 2nd Cali Man Laundered $560,000 Stolen From Bergen Man, $285,000 In Gov’t Loan Scheme/strong>

Jerry DeMarco,  27 March 2021

A second California man has been charged in an email scam that cost a Bergen County property owner $560,000 – and there could be more, federal authorities said.

Anthony Debose Hannah, 57, controlled an account where co-conspirator Eric Bullard wired $230,000 of the money, Acting U.S. Attorney Rachael A. Honig said.

Bullard, 59, of Los Angeles had hacked an email account at a law firm representing the victim, then wrote to the client with instructions to wire the $560,000 into an escrow account identified as “Eric’s Commercial LLC,” Honig said. Continue reading “Article: Feds: 2nd Cali Man Laundered $560,000 Stolen From Bergen Man, $285,000 In Gov’t Loan Scheme”