Hey Ned,
IMO, ignore anything David Llewellyn-Smith has to say about IO. This guy has been the ultimate biased pessimist, and has been continually trashing IO and it’s long term forecast.
Only a few months ago he was making statements that IO is headed to US$40 and will never go above it again. Absolutely stupid to be making calls like that IMO.
IO is needed now, and will be needed into the future. Price cycles will continue to occur, as history has shown and repeats.
None of us have a crystal ball, but I am still bullish for the next 24 months, China has been spreading a lot of propaganda and bs, but it can’t be ignored that their current five year plan sees a 30% increase in IO consumption from current levels. That’s a little tidbit they haven’t been openly spruiking funnily enough.
Anyways, it looks like we’re getting some consolidation around the US$160-170 mark, IMO we will average this price over the next 12 months, and every IO producer is making great money at these prices. Time will tell
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