I see MS are still talking iron ore down, comments like "The bank maintained its forecasts for the raw material to average $45 a ton this quarter and $35 in the final three months of 2016, with a base-case estimate of $40 for the second half. So far this year, the Metal Bulletin benchmark has averaged about $53 a ton"
How this quarter can average $45 is beyond me as the average so far must sit at about $55 and we're half way through it. http://www.bloomberg.com/news/artic...0-by-morgan-stanley-as-china-pullback-is-nigh
Also that bloody Andrew Mackenzie still trying his best to keep the price down.
Could be a good reason for the lenders still selling as @Djingo says their just covering their ar#es.
The buyers at 1.1c seem to be running out so either they sell lower or stop selling for now.
Might be a good time to buy more especially if IOP can hold $55 - $60 for the rest of the year.
AGO Price at posting:
1.1¢ Sentiment: Buy Disclosure: Held
