All other commodities have fallen 50%+, so i would find it hard to believe iron ore would only fall 20%. I think anywhere between 30-50% is more realistic.
Does anyone have an opinion on what impact Chinalco/Rio would have on price negotiations? Will this result in Rio being forced into contracting at significantly lower prices.
I imagine this is Chinalco's primary reason for doing this deal i.e. securing cheaper supply of raw materials for aluminium and steel production
baltic dry index still rising..up 159 to 1974, page-11
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$42.99 |
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| Open | High | Low | Value | Volume |
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