BDI is irrelevant. What matters is; - Iron ore will be down 20-40% in the new contract - coking coal will be down 50-60% y-o-y - base metals won't be up anytime soon - manganese and chrome are already down 30%+, who knows where thats heading - petrol is cheaper than milk again, last time probably when Keating was at the reins - Ravensthorpe sucked 50% f the half year profit. This half year profit (before abnormals) will not be repeated again for a couple of years, if ever. - Worsley is a stinking dog. Prepare for $3Bn of pain. - yabulu is a hooker with no clients. Prepare for more pain. - God alone knows whats next. Cannington? A few diamond mines? Chilean copper?
Yeah conix, its really a great time to buy into a great sucker rally on BHP.
BHP Price at posting:
$32.23 Sentiment: ST Sell Disclosure: Not Held
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