Iron ore price, page-35691

I agree with you, its telling that short interest and retail holders thinking posting chicken little posts of doom and gloom are going to move the SP of a $66B company.

The research I read from Institutions who put their money where their mouth is agree that the long term future of iron ore is still looking up.

Iron ore miners were going the other way and have clearly entered correction territory. The price of iron ore fell over 15% in yesterday’s session. While there are some concerns over a slowdown in Chinese demand, I don’t think that the steel making ingredient is about to enter a bear market. A lot of iron ore is going to be required for the post-Covid reboot, and the wave of infrastructure investment in the years ahead.

I think it is telling that while weakness in the likes of BHP (which has of course made other big announcements this week) has been severe, it has still lagged the falls in the iron ore price. I think this is partly because the miners were being valued on a sub US$100 per tonne iron ore price anyway, but also because the long-term demand outlook is strong, and hasn’t suddenly changed that much.