your money yor call, page-4

tarmaya, problem is most investors do NOT know. It's only a few professional investors who have the knowledge and access to info that know the exact situation.

It's hard to know exactly what is happening, but I monitor the situation very closely.

I've been suggesting on the GRR thread for weeks that the iron ore bench mark for pellets will be set at 100%+ increase. I'm confident in my call.

Spot prices have moved up to and now above my own call of US$150/ton as the Indian IO spot prices have increased to US$155 - 158/ton. I did mention previously that the Indian transport cost increases by road and rail would drive the spot price higher.

What manila said about the MD stating that they'd have $130 million in the bank next year is correct.

Maybe shareholders would be better off taking the profits as dividends rather than doing an acquisition. Unfortunately they have been "dilly daddling" too long and have "missed the boat". The time for action was 12 months ago, but unfortunately these blokes can maybe dig out some iron ore BUT they are not clever entrepreneurs.
All that they'll get now is the dregs.

Indian iron ore prices continue to march north
Saturday, 27 Mar 2010
During the week, FOB prices of Indian iron ore fines continued gains taking the total hike in iron ore prices to 20% to 40% for different grades since last low on March 10th 2010.

After, Baosteel raised its April hot rolled coil steel price by CNY 300 per tonne, sentiment in the Chinese steel markets firmed up further and some steel mills started to restock their inventories. In other words, increased buying interest was seen in the market.

The low availability of spot cargoes from Brazil and Russia are playing major role in pushing up prices in China

The cheap finance and speculation on the currency has also played a part.

As per market reports, some 63.5%/63% cargo have been concluded at USD 155 per tonne to USD 157 per tonne CFR China and offers are heard above USD 158 per tonne CFR.

But, some Chinese buyers are still showing interest in the lower band hoping for a reduction in CFR prices as sea freights are expected to reduce in line with BDI going don below 3000.