I haven't followed the thread because I am not long at present. However, I trade it all the time. My view is simple on ARI; don't stand in the way of it when it wants to fall and don't sell it when it wants to run. Not great I know but it might help some.
I see that 1.10 has been discussed above. Wouldn't surprise me but I bet it retests higher first (otherwise how would it confuse us???). The shorts are stable so if it holds this region for even a few days they will panic buy which would be enough to revisit 1.50's.
The other thing I have noticed is that the press all talk about BHP, RIO, FMG, AGO and GBG. WTH? Do they not realise that ARI export more than AGO??? Also, AGO export rubbish (literally). We export 62% fe while they on a good day export 58% fe and on a bad day lower iron content. When we talk about spot price it is fit only for 62% fe. Deduct a lot for lower content exporters. I doubt AGO is making cash as from today.
ARI Price at posting:
$1.33 Sentiment: Hold Disclosure: Not Held
