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Iron Ore oversupply???Gee I'm not the most informative or...

  1. 11sjw
    1,450 Posts.
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    11/07/08
    18:21
    Post #: 3981463
    Iron Ore oversupply???

    Gee I'm not the most informative or informed poster on here but did that guy just jet in from Pluto??

    Rio and BHP will be expanding/opening new mines in the next 5 years to meet contract orders, ie orders already taken and accounted for.

    In that time some operations will close down, guess what? That means they have to open more mines to just maintain existing production levels.

    India are starting to impose levies on Iron Ore that is exported. Sounds like an over supply is developing.

    By the way Freo will win by 100 points this weekend because they'll be oversupplied.

    That's it I'm off to laugh myself silly.

    SDL Price at posting: 0.0¢ Sentiment: Hold Disclosure: Held
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