That's probably because he is correct, if metals prices continue to spiral downwards or stagnate then investment in new mines/expansions will dry up considerably as they have already started to do, BHP have just announced a delay to the harbor expansion among other cut backs they have made recently
i think it is amazing how many punters think it will never stop, a little like the housing boom i suppose, great til it all comes undone. Europe is in deep poo, US in deep poo and China could be in trouble, Metals prices are reacting to this as we can all see in the share prices of all but the biggest diversified miners and even they have been buffeted.
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That's probably because he is correct, if metals prices continue...
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