Things are look very dicey despite the trademark optimism from the boys. Is there an IO price ($30, $25, $15?) where Andrew would come out and say 'we're stuffed here'?? Not his style.
Andrew seems to still be very angry at Rio/BHP for 'trashing the market'. However, I think this is bigger than that. China is slowing sharply and you simply cannot believe the 7% official growth figures. Steel production is declining despite steel exports (dumped) increasing sharply.
Rio, BHP, FMG, Vale have all overcooked estimates of Chinese steel demand imo
Iron Ore Price, page-3142
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$21.62 |
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Mkt cap ! $66.56B | |||
| Open | High | Low | Value | Volume |
| $21.61 | $21.78 | $21.48 | $190.2M | 8.611M |
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| No. | Vol. | Price($) |
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