2.5 years ago majority of analysts were calling a $100 tonne floor. Walsh and Mckenzie were calling prices sub $80 "fantasy land". Estimates from both analysts mining execs based on the same modelling. Fast forward 2 years both analysts and these 2 miners are predicting sub $50 prices. It can't be because of supply that they're predicting a drop, because new supply is common knowledge well in advance. So to have such a drastic change in outlook to their modelling they have to be trying to predict the future spending of the Chinese governments and markets. This is something that neither parties were able to predict which has forced a $20 per tonne increase since the start of the year. Comical and embarrassing really.
2.5 years ago majority of analysts were calling a $100 tonne...
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