Liberum is getting ready to short when the time is ripe by planting now a I-told-you-so story in the public domain to aid their scare mongering. I disagree with their forecast (scarecrow) that IOP will be $40 come 2020. I don't see IOP going forward lower than around that $60 mark by around May. Having said that I also don't see IOP rising much above $70 for the rest of 2019.
However in the medium term, IOP will trend higher and FMG will be a good long term investment as the demand and supply dynamics go into reverse.
While IOP (62% fe) may yet peak at say $90 immediately after CNY, I believe this is the time to lock in profit and buy back around May.
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