RIO NYSE UP .79% BHP NYSE Steady .00% VALE NYSE UP 1.53% CLF...

RIO NYSE UP .79%
BHP NYSE Steady .00%
VALE NYSE UP 1.53%
CLF NYSE Down 2.91%

Platts Spot Price 62%Fe Down 70 cents now $93.60/dmt US

Platts Spot Price 62%Fe Down 49 cents now $99.38/dmt AUD


The Iron Ore price has been dropping for over a week now and
so far the miners have had almost no reaction to it!
IMO this won't go on forever especially for companies like AGO
who are actively being priced out of the market by the majors!

The report shows AGO is losing money at these prices!
With a headline price $103/dmt US after D&A AGO is losing money
every day! With a Headline price at $93.60/dmt going down, AGO may
well go out of business!

Does any one honestly believe they have a bright future if the price stays
where it is or moves lower as Goldman predicts?


Iron Ore Drops to One-Month Low as Goldman Keeps Bearish View

Iron ore extended losses to the lowest level in a month after Goldman Sachs Group Inc. said increasing production from Australia and Brazil will deepen a global glut every year through 2018.

“The large scale of supply that is entering the market this year will add downward pressure to iron-ore prices,” Gerard Burg, senior Asia economist at National Australia Bank Ltd. in Melbourne, said by e-mail. “The increase in demand from China should be less than the increase in supply.”

Global seaborne output will exceed demand by 72 million tons this year, 175 million tons in 2015 and 323 million tons in 2018, Goldman said. The size of the surplus, which has led to the shuttering of some Chinese mines, will put high-cost seaborne producers at risk, it said.

http://www.bloomberg.com/news/2014-...-month-low-as-goldman-keeps-bearish-view.html


http://www.bloomberg.com/news/2014-...rd-iron-ore-output-for-2q-as-prices-fall.html