GT uses a figure which is $20 AUD above the current Iron Ore price which is widely predicted to drop further!
This fundamentally wrong and blatant ramping!
If you read the analyst from U_Metal, PLatts and Bloomberg etc then you will appreciate that it is highly likely that the Iron Ore price will drop significantly further.
It may well recover and find a floor at $90/dmt but that is still less than what it is trading at the moment!
The other problem is the Australian dollar continues to rise! So our $97/dmt AUD figure is likely to continue to fall!
A strike in Port Hedland will help but it all depends on how long it is for and if there is any strike at all! I've read a number of analyst predicting a price of $90/dmt from 2015 onwards. Although I have never herd of any one being able to predict the long term price of Iron Ore before, it is far safer bet to expect things to get worse!
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