I agree - cr doesn't make sense (not yet anyway)...
It looks like the world is getting used to a new generation of commodity prices- I agree that gone of are the days of absolute cream for the miners....less econonomical projects will fall by the wayside and good projects will find ways to claw back profits through efficiency. China services index was up for September- only 1 small article on Bloomberg - seems the media only likes to publish millions of articles on the negatives.
Eg when coal was 120+ cpl wanted to spend 900m on capex, now can do the same thing with 600m spend ...
Cheers
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