iron ore $ up., page-6

Our mate Matt747 has a post on the fmg thread stating some think $145 per tone before years end.

So let me get this straight, the bid price was dropped due to changed economic conditions, said GC.

What has changed - China has more money than they know what to do with.

China importing as much iron ore as in previous years.

Price of ore on the increase.


So the only change in economic conditions is that the Chinese have been purchasing their ore at depressed values for all of a few months. Seems to only been in their favor.

Leaving the SDL holders in a worse economic condition having been bent over backward to accept a .45c bid for a supreme asset that only 12 months ago was said by all including GC. to be way UNDER VALUED!!!! And that was at .50c