6 months ago, iron ore was crashing down to $40/t and was PREDICTED to go lower by our experts in the field. Every big producers tried to offset the loss by pumping out record production. Then more supply coming on line eg. RossHill etc.
Today, iron ore is trading around $60/t and FMG has almost double its SP.
My argument is, China is growing the bottom line, albeit slow pace. Therefore PoC will eventually rise to its demand.
The bear market trying to push PoC lower but it bounced off the 200MA. The little white candle overnight provided a little of hope (that this trend will continue).
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