Pete Wargent blogspot

Co-founder & CEO of AllenWargent property buyer's agents, offices in Brisbane (Riverside) & Sydney (Martin Place), & CEO of WargentAdvisory (providing subscription analysis, reports & services to institutional clients).

5 x finance/investment author - 'Get a Financial Grip: a simple plan for financial freedom’ (2012) rated Top 10 finance books by Money Magazine & Dymocks.

"Unfortunately so much commentary is self-serving or sensationalist. Pete Wargent shines through with his clear, sober & dispassionate analysis of the housing market, which is so valuable. Pete drills into the facts & unlocks the details that others gloss over in their rush to get a headline. On housing Pete is a must read, must follow - he's one of the finest property analysts in Australia" - Stephen Koukoulas, MD of Market Economics, former Senior Economics Adviser to Prime Minister Gillard.

"Pete is one of Australia's brightest financial minds - a must-follow for articulate, accurate & in-depth analysis." - David Scutt, Business Insider, leading Australian market analyst.

"I've been investing for over 40 years & read nearly every investment book ever written, yet I still learned new concepts in his books. Pete Wargent is one of Australia's finest young financial commentators." - Michael Yardney, Australia's leading property expert, Amazon #1 best-selling author.

"The most knowledgeable person on Aussie real estate markets - Pete's work is great, loads of good data & charts, the most comprehensive analyst I follow in Australia. If you follow Australia, follow Pete Wargent" - Jonathan Tepper, Variant Perception, Global Macroeconomic Research, author of the New York Times bestsellers 'End Game' & 'Code Red'.

"The level of detail in Pete's work is superlative across all of Australia's housing markets" - Grant Williams, co-founder RealVision - where world class experts share their thoughts on economics & finance - author of Things That Make You Go Hmmm, one of the world's most popular & widely-read financial publications.

"Wargent is a bald-faced realty foghorn" - David Llewellyn-Smith, 'MacroBusiness'.

Friday, 5 June 2015

Iron ore exports to the moon...

Record cargo volumes shipped in May

The Pilbara Ports Authority released its May figures which showed more than 38 million tonnes of iron ore cargo shipped in the month.

This was a 7.4 per cent increase on the April figure, and the highest monthly result ever reported from the Pilbara.

This ramp up comes after an apparent capping of iron ore supply over the past year, even if at previously unthinkably high levels.

As the above chart shows an incredibly 85 per cent of that cargo was shipped to China and Taiwan.

Korea and Japan accounted for most of the remainder at 7 per cent and 6 per cent respectively.

The good news is that the iron ore spot price has rebounded from below US$48/tonne to well above US$64/tonne, for now at least.

This is one of the reasons that next month's International Trade figures should in theory be much better than last month's stinker of a result.

However, the boost may be short term in nature if the increase in supply of cargo shipped once again puts downward pressure on the commodity price.

As noted here previously, a materially lower Aussie dollar would help.