you guys need to read the announcements more carefully.Generally...

you guys need to read the announcements more carefully.
Generally FMG quote costs relative to their discount, so not as bad.
according to the most recent preso they have stated low $70's per tonne as break even (inclusive of interest and sustaining capital).
long way off that, way down the cost curve, these drops just provide opportunities for me.
BUT i still note weakness, and whilst my holding is depreciating on paper, i'm happy to be involved long term. short term i see it dropping a bit further, chinese seemingly don't know if they're arthur or martha.
longer term, they are the third cheapest. They are pumping out s***loads of IO. and steel will be forever in demand.
why supply more and more for less and less. smaller producers get kicked out, just makes the oligopoly stronger. short term pain, long term gain.
IO nd the aussie supermarkets, my faves. too much competition elsewhere.