I may have to disagree with you oreweath, this raise doesn’t indicate that iron ore price is going to go up. I think still it has downward trend in long term price. Still there is over supply than demand.
Recently Australian dollar has done better. The iron ore price raise may have little gain due to exchange rate. Recent quarterly BCI has lost approximately one million dollar due to exchange rate, if I am not wrong.
Iron Valley is one segment of BCI, the benefit for BCI is small. It is very important to know - What is BCI strategy? Currently they are collecting there fees and salary, draining the cash.
Let hope BCI management will show their skills.
BCI Price at posting:
7.9¢ Sentiment: None Disclosure: Not Held
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