This won't affect the price of iron companies either.....
Iron ore price recovery tipped to run into 2013 by: Sarah-Jane Tasker, Matt
THE recent surge in iron ore prices has taken the market by surprise and a solid run is forecast to continue into next year, with delayed expansion plans, stronger Chinese growth and falling Chinese inventories set to support healthy levels.
Credit Suisse analysts are forecasting iron ore will trade between $US130 and $US140 a tonne for the first month or two of the new year, with the chance of moving higher in the short term, but they warn that any hint of weaker news on the macro front would send a signal for profit taking.
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WHo would have thought, more ore, higher prices........increasing demand...yet worth less.
Will have to rewrite Economics 101..Supply Demand does not follow the logical trend when dealing with entities that can manipulate the market.
How can we vote now.
We should demand the management renegotiate the price..or die trying..a better price or step aside.
I'm happy to go down with the ship as I will have the enjoyment of dragging Hanlong down with me............Won't happen.
M
SDL Price at posting:
31.5¢ Sentiment: Hold Disclosure: Held
