The Chinese are one company.
They are not losing money when the IO price drops because most of their supply is off shore.
Of course their mines having been closing. U-Metal regularly discusses which mines are closing and when!
However some of their larger mines will ride the storm as they have existing infrastructure to supply the mills and the government are supporting them.
I suspect they will buy more Australian mines as the IO price sinks further.
I reckon AGO will bounce off 40 cents like 2008 and after things start to pick up with the IO price AGO will become a prime take over target.
Holy crap! Has any one seen the IO futures market today? lol
The Chinese are one company. They are not losing money when the...
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