Last paragraph might be the answer to your question.
“In Fortescue’s, Rio’s and now BHP’s results, we’ve seen record production levels, record shipping to China,’’ said Michael McCarthy, market strategist at CMC Markets.
"At what stage will the market say we’ve got the China story wrong? The China bears have been calling for a hard landing for over 18 months and yet at the company level we consistently see increases in production and sales," Mr McCarthy said.
"The answer is they’ve got it wrong but that doesn’t stop them getting bearish about the prospects," he said. “Sentiment is certainly dominating rather than the traditional numeric approach to investment.”
Read more: http://www.theage.com.au/business/bhp-billiton-delivers-record-iron-ore-result-20120718-2294y.html#ixzz20vpPuM2g
what was wrong with the result?, page-3
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