iron ore news, page-30

You don't want to pay too much notice to these so called expert analysts, they write any old rubbish, just to stir the pot.

There's one guy that's not to bad (pretty bloody good really) Ron Bewley from WoodHall Investment Research (http://www.woodhall.com.au/market-updates), weekly updates come out on Saturdays - and its free.

Here's a quote from last Saturday's update ....

"Goldman’s predicted iron ore could reach $80/ton by 2015 – ore is currently around $135, was recently just under $160 - but under $90 last September - after averaging about $140 for the earlier months of the year. To put this dire claim into perspective let’s take another of Goldies forecasts – but from May 2008. WTI oil was then $125/barrel and an analyst predicted oil would go to $200. Oil peaked at $145 a couple of months later and fell to $30 before that Christmas! I have nothing specifically against Goldies or any of the big houses – just the people who put them on a pedestal when they make brave forecasts. All of the forecasters were wrong last September when ore was under $90. Let’s ask these people to lay down their track records - not their presumed salaries and bonuses! The slightly soft China data of the week before has already been trumped by a preliminary China PMI number of 51.7 against a forecast of 50.8."