Big differences Ajostu.
Before the price of iron ore peaked I thought the sector was very risky.
BHP, RIO and overseas suppliers had plans for huge increases in supply over multiple years at a time when economies were slowing world wide and the economic picture looked poor for the foreseeable future. Europe and US are too big not to at least slow Chinas growth.
China already had developed huge infrastructure over decades and many argued it was too much too soon over the last few years. There was no reason why it couldn’t slow while the majors wanted to increase supply. BAD combination.
I couldn't understand BHP and RIO's plans. If they didn't grow production over the last 1-2 years, prices would have held higher.
I avoided small iron ore stocks like the plague.
The gold industry has not been in the position where they had massive reserves and could step up production at will despite increasing prices.
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