pre open, page-3

aqd shareholders and believers hehehe hi Agnelo,

Yeap....we all waiting.....this should be a cracker..... and we are talking about Iron Ore here not any mineral....the mineral that is the most in demand from China, the mineral that has had a price hike of over 71.5% last year and over 18% this year...and more to come :)))) and the demand LMFAO ! :)))))

Iron ore prices may rise again

By Tom Stundza
Purchasing
September 13, 2006


Despite almost 7% annual growth in iron ore supply, world consumption is growing at a slightly faster rate and the market will remain tight if this scenario plays out through 2007—and trigger at least a 5% price increase when 2007-2008 contracts are signed. Consolidation has left more than 70% of iron ore supply in the hands of three producers, and these have extracted substantial price increases from steelmakers in recent years, peaking at 71.5% in fiscal 2005 and 18% in fiscal 2006. While the miners are now spending heavily to raise output, and an exclusive survey by Steel Business Briefing, the online steel news service, shows that more than 50 million metric tons/year of new capacity will be added each year through to 2010. Capacity to supply the world market this year should reach 875 million metric tons, up from 817 million metric tons in 2005. ” But with so much iron ore capacity in so few hands, there is little doubt that the miners retain the upper hand in future negotiations,” says the Steel Business Briefing analysis. “This is a turn about from a few years ago when steelmakers were able to play one miner off against another to keep prices in check.”