iron ore backdrop improving

Time to break the ice with the first post for November 2012.

Like many small microcaps, NSL has gone to sleep with seemingly little interest from the investment community. Of course management are working diligently in the background trying to get production up to 'hoped for levels' after a disappointing Sept Q.

In the mean time, the price for the commodity continues to improve.

In fact iron ore pricing has climbed to the highest level in more than 3 months, back to US$122/t. Improving Chinese economic performance on a number of fronts, being the key driver. Prices climbed 14.5% last month, cutting this year's loses to just 12%.

I read that for the first 10 months of 2012, Chinese iron ore imports rose 8.9% to over 600m tons (v the same period last year).

Steel product exports were 4.84m tons in October, 27% higher than a year ago.

Once we start selling more product and getting a better feel for the depth and breadth of the local market for NSL's product, then NSL will begin it's overdue accent.