well, the price didn't plummet in dec as some had predicted, as history suggested, the price would firm or worst case, hold. jan will be another interesting month as hisrory again suggests i/o price will move up - the cyclone has reduced supply and according to macrobusiness -
“There is going to be an 8-million tonne squeeze on iron ore supply, but on the demand side it feels a bit muted at the moment,” said Graeme Train, an analyst with Macquarie Bank in Shanghai.
“We are not seeing the mills aggressively scramble for material and while we should be looking at a bit of an upside in prices (as a result of the supply disruptions), it will not be a runaway increase.”
go you beautiful thing
FMG Price at posting:
$5.88 Sentiment: ST Buy Disclosure: Held
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