drop in io demand is good for umc, page-9

I hope some of yopu can help me as I am confused and comcerned.

It was clear that high commodity prices and a booming economy was good for UMC now you tell me that the reverse is true. I simply don't see how a lessening of demand for Iron can assist us, the current share price is all the evidence I need.

I believe that we have a wonderful prospective resource of high grade ore but if it is not much wanted in the short to medium term we will suffer as it will be less valued. When demand picks up there will be no shortage of major producers able to fill it and it will be that much harder for us.

6-9 months ago I was privately factoring in a $10-$15 sp within 3 years, that now looks to me to be an impossibility. We will need all the skill and luck we can find to survive intact for the next 3 years.