this was published http://bit.ly/1DUgPwQ today. Of the very brave comments the articles states :
'...While fundamental reasons explain the short-term bounce, “the bigger picture is that the market remains massively oversupplied,” Bain says...'
I though some perspective might help. From this us publication http://on.doi.gov/1j6oSfJ the US estimates world iron ore production at around 3ooo million tonne.
So it seems to me that the "oppressive" 80 million tonnes that Capital is worried about, in the scheme of things, is a little over reaction. The surplus identified is 2.5% of a global market. I would have thought any amount of things could absorb that capacity ... Chinese stimulus, India's growth ambitions, consumer confidence on a global scale or even supply capacity withdrawn (voluntary or involuntary).
For me, I suspect we've seen the top, we've seen the bottom and are now searching for the fair price.
all good for GRR!
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26.0¢ |
Change
0.005(1.96%) |
Mkt cap ! $300.9M |
Open | High | Low | Value | Volume |
26.0¢ | 26.5¢ | 25.5¢ | $224.3K | 860.7K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 121209 | 26.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
26.5¢ | 286541 | 9 |
View Market Depth
No. | Vol. | Price($) |
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2 | 117055 | 0.260 |
2 | 100004 | 0.255 |
13 | 325215 | 0.250 |
4 | 204234 | 0.245 |
15 | 306029 | 0.240 |
Price($) | Vol. | No. |
---|---|---|
0.265 | 279593 | 8 |
0.270 | 134037 | 4 |
0.275 | 357994 | 6 |
0.280 | 190500 | 6 |
0.290 | 154000 | 5 |
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