fe down 6%, page-11

I'm talking about these supposed analysts who offer their price forecasts relying on their news feeds and once-a-quarter cursory mill tours. Oh look my previous forecast was $80, YTD is $55, maybe I should revise my year end forecast? Sound familiar? You think these forecasts affect the handful of private traders controlling the IO flow or the funds smashing the DCE futures who are actually setting the price?

Re stockpiles again maybe dig a bit deeper eh? Look offshore to Philippines, etc. where stockpiles have gradually amassed to over 9Mt where Vale is blending their high grade ore for shipment into China, due to previous inaccessibility of Valemax vessels. Don't confuse lower stockpiles for higher demand.