Let's all be happy, page-56

Daytrader, it must be difficult shorting AGO based on last year's Fe historical prices when BBG runs articles like one below bloomberg.com/news/2015-01-02/tata-steel-said-to-restart-biggest-iron-ore-mine-in-east-india.html that shows up the "1 tons (sic)" as lacking foundation. As mentioned in article, Tata Steel (its biggest producer) has far more Fe produced for it than 1 ton & it's been cutting back mines due to poor quality ore. I see no evidence of iron ore supplied to meet Indian steel making capacity from elsewhere to meet demand beyond LME physical delivery contracts. A lot in India does come from onsupply in the LME contract spec as they have very few plants in India making the contract spec grade for the steel mills presumably for Middle class Indian housing developments in Mumbai, Delhi etc. A new pro-development capitalist has just been elected Indian PM. In that environment, burgeoning middle class Indians will construct more houses with Tons of FE & steel. The 1 ton needs support & evidence for constructive debate purposes.