Phill, based on the 40% reduction your analysis is spot on. However, remember the chinese are starting the negotiations by asking for 45%, they're not going to achieve their starting position. Additionally as the coming months show more signs and news of improvement in the steel sector in china, the big 3 will drag the negs as long as possible to get a better price. I believe its going to be more like 30%, which will improve the numbers provided by various posters in the thread today.
Dacata, excellent call on the 0.37 support line. I must pay more attention to fibonacci!!!
maquarie report 20.01.09 mgx, page-18
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| Open | High | Low | Value | Volume |
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