nothing new for a while!, page-36

Cheers Oges,

Hope you meant missed rather than mixed!

Always comes back to why you invested in a company. For a trade? UMC would have let you down. For the long term? nothing at UMC has changed, it is the sentiment of the iron ore industry (and other commodities) that has changed.

People have to make their own assessment on where the market is going to go.

My call is about a 25-30% decrease in iron ore prices. This is not the end of the world, this price, if I am correct, is still higher than the 2007 price. Which is higher than 2006, which is higher than 2005....

Unless there is really a very long term recession and China, in particular, decides to shelve its urbanisation plans (which I seriously doubt given they look a generation ahead) then this is a hiccup, albeit a major one, in the whole scheme of things.

My tip is things will look a lot better late this year. For the next 6 months? it is going to be tough.

DYOR, nice to talk to you Oges.

Cheers, Tony.