Things starting to heat up in the IO sector. Contracts are being locked in above expected prices. Rio giving Chinalco the palm off hints that IO producers are holding better cards than indicated 6 months ago. The BHP/RIO JV smacks of stonewalling large Chinese participation in WA assets. All bodes well for the smaller producers as chinese may look to get in somewhere and will likely not be happy with the united BHP/RIO front.
Many IO'ers up today AGO +3.66% RIO +8.36% BHP +8.74% FMG +13.5% MGX +9.25% UMC +7.75% BCI +39.2% MMX +10.7%
AGO Price at posting:
$1.70 Sentiment: Buy Disclosure: Held
