BWJ – you seem to be getting frustrated. Your point is not being...

BWJ – you seem to be getting frustrated. Your point is not being accepted. FMG is going up, and defying logic. It does not make sense because... it does not make sense.
BHP, RIO are talking production cuts – they will end up between them cutting production by much more than FMG are planning to produce in their Stage One campaign – before we talk about Vale. And they will have spare capacity to bring back on stream when the market eventually turns – and will not have to invest major amounts of capital to do so.
The IO price is coming down – I posted that it would come down by > 30% about 5 weeks ago and got howled down – now we are looking at 50%+ - though time will tell.
And is Twiggy the only one with good relationships with the Chinese – certainly FMG would have us believe so – perhaps as good as the relationship he has with the shipping companies – they would be fun discussions at the moment - who knows how that will play out, as play out it will at some level.
And production must be going swimmingly as they try and further improve the Al content of their ore for the benefit of the consumer – surely this is something that should have been done before the plant was being commissioned, not afterwards.
This is thin ice with cracks everywhere. Perhaps there will be another freeze, but I would not be standing on it.