Hi asx-dude, I think the mother of all short coverings is coming.
Chinese stimulus ($1 trillion infrastructure plan for which IO re-stocking has NOT commenced)
RBA cut
Vale cutting product
BHP canned Port Hedland expansion
I tip BHP to cancel all expansion at mine Jimblebar (given the S&P DOWNGRADE)
32 new global projects snuffed out by Rio/BHP over the last 12 months and hundreds of MILLIONs of tons of global production displaced (just as cartel collective do an about-turn CATCHING China playing with de-stocking by surprise).
Aussie deficit crisis turning into catastrophe will DEMAND the Big2 to start CLAWING back all lost revenue
Rio (I suspect) will drop a mega bomb shell at the investor meeting to start curtailment
Hi asx-dude, I think the mother of all short coverings is...
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