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09/12/14
12:17
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Originally posted by Matt747
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... Vale started a 3 year iron expansion project and it funny ..
Vale said that the superduper $19B mine could end up displacing Vale's other higher-cost, less profitable mines.
In the end, there could be no or little net supply onto the market.
Brazil's economy is in even worse shape, they just suffered another massive current account deficit.
Meanwhile China just had a massive trade surplus, compliments of DUMPED precious Australian iron ore from BHP & Rio as well as an oil crash that came out of nowhere (China is the world's largest oil importer for the 1st time).
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Hence my point.
BHP and RIO are trying to sink VALE.
Oil price did not come from no where.
point 1
US used to back all the oil nation if they trade in USD. But a certain nation lost US backing and felt semi betrayed.
point 2
Russia supplies more oil then middle east country stop backing the US.
point 3
Now china has stop backing the US dollar.
Nutshell- China is trying to do direct deals with countries like australia.
Soon we wont be using the US but RMB per ton, unless a war breaks outs.
do your own research as i could be lying to you all
Last edited by
klob25 :
09/12/14