Can anyone explain why china would want to "conserve their own...

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redsceptre

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02/03/16

15:06

Post #: 17167323
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Originally posted by gassin123 ↑

IO at 60 is coming Soon ..

AGO will pop ..from 1.6c to the 3.2c Tops ...as first stop.

Carolyn Herbert:Taking a look at iron ore specifically, the price of the commodity is around the $40 per tonne mark, what range do you think this is going to be trading in and do you think we’ve hit the floor yet?

David Lennox:Yes, we think we’ve hit the floor. We think iron ore through 2016 will trade probably between US$38 dollars a tonne up to US$60 per tonne, to actually close the . The reason we say that is because if you have a look at 2015, China imported a record 953 million tonnes of iron ore, that’s up $32 million tonnes on 2014. In 2016, we expect China will import something like near on a billion tonnes of iron ore. The reason they are importing such a huge quantity is primarily because they want to conserve their own home iron ore and also they believe they can get cheap 62 per cent fine iron ores at a very good price form the import market, so that’s why we basically suggest that through the latter part of 2016 we will see a very strong rally in the iron ore market.

http://www.finnewsnetwork.com.au/archives/finance_news_network122309.html

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Can anyone explain why china would want to "conserve their own iron ore"?

AGO Price at posting: 1.7¢ Sentiment: None Disclosure: Not Held
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Can anyone explain why china would want to "conserve their own...

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