Brilliant brilliant
MBN SP spiking back to 12.0c on very low vol below 400k, no sellers at all even at 10.5c!
NP spiking up 50c in 24 hrs from 4.86 to 5.37 now, moved $1 in 7 days from 5.86 to 4.86 back to 5.37, soon back to 5.86 on that V shape whipsaw rebound.
NP has hit its 10 year low, we just saw it, the flush out is done, its up from here solidly to dec now.
Excellent article ccdavid, confirms exactly what the platts n citi research reports that I posted last week were saying--- chinese ferronickel imports , tripled from 2 years ago, even may 2015 imports up double from last year, npi production continues collapsing (as its insolvent anyway needing 7.00 np to break even), philo ore run out or under chinese defacto geopolitical sanctions.
soon 12.5c floor again or an attack on that 14c fake offer.
the Obama Rousseff meeting is bullish for MBN, they will have to settle up on MBN meaning a dropping BRL rising NP, spiking MBN SP, returns of cash to usaNHs investors, coming our way soon.
If MBN becomes an example of profitable usa investment in brazil, instead of an 70% loss, then the call stop blocking this trade will dissappear and usa investment will flood in again, hey if wellington make a large profit on MBN shares, bonds, the usa bond funds will return to brazil in droves.
Macro factors look great for MBN, a lower NP means MBN is gaining market share as its a rare low cost producer buffetted by its low currency, unlike oz n philo producers.
STay long stay strong, we will see MBN lead the ni industry shortly, believe it.
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