BHP is finally hinting of a engineered price rebound.
http://www.smh.com.au/business/mini...strained-by-output-surge-20141019-118b5x.html
BHP Billiton's marketing boss Mike Henry says iron ore prices of less than $US100 are the new normal, and the mining giant has incorporated that forecast into its plans. Mr Henry said the iron ore price was unlikely to eclipse $US100 for a sustained period, because at that threshold a lot more fresh supply is incentivised to market, which would in turn push prices back down.
"Could you see iron ore back up over $US100? For a short period of time, possibly, yes," Mr Henry said. "What I'm pretty confident about is that you are not going to see iron ore back above $US100 on a sustained basis in real terms ... Prices over the long run will be sub that sort of level. Is that baked into our plans? Absolutely, yes.
Could you see iron ore back up over $US100? For a short period of time, possibly, yes," Mr Henry said.
yes well see IO hover between $80 to $100us ..
that's $100au to $120au at AUD 80c to 90c
can FMG make money ..YES !!
BHP is finally hinting of a engineered price rebound....
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