Iron ore price, page-10018

Looks like Atlas directors forecast made in the HY report at end of Feb on pg 17 about the discount coming in from 40% to 23% by Feb18 may be coming into fruition. Great to see and look forward to some significant share price appreciation over the next year and beyond...

https://www.bloomberg.com/news/arti...steel-stockpiles-seen-giving-iron-ore-a-boost



........Mainland mills are now preparing to boost purchases of cheaper raw materials as profitability retreats, according to Gaines, who visited China this month. That would benefit Fortescue, which produces cargoes with lower iron content than rivals including Rio Tinto Group.

“That was the message coming through loud and clear” in talks with Chinese customers, Gaines said. “That this is driven by profitability. And as soon as that profitability comes under pressure, our steel mill customers will be looking for a lower cost of input.”