Got it ... but dont think this is china doing. China have still almost stock pilling the same amount of iron ore. It just BHP and RIO are trying to sink VALE. Vale started a 3 year iron expansion project and it funny .. it break even point around 70 bucks a ton.
This is what i heard around the rumour mill ... but i could making stuff up.so look into yourself.
This will give you the time how long this iron ore price war will be going on for.
Two fold attack,iron ore sink - bad for Australia.
AUD is dropping good for australia
Aussie future funding hedging bets if the AUD goes up. hence we semi balanced.
If you compare AUD DROP vs USD iron ore price ... it not that bad .... just some ppl are caught holding no USD hedge eg fmg.
Nutshell i buy iron ore at 70 USD ton.
I swap the USD for AUD it used to be on par now i am getting 14 cents more. Really simple if u look at it.
Just some ppl get caught up in the hype
SDL Price at posting:
3.7¢ Sentiment: Buy Disclosure: Held
.... just some ppl are caught holding no USD hedge eg fmg.
