Don't really care much about an individual or even forecasters in general - they often get things wrong. However, I/O prices have fallen back by around 20% since early January and that will have an impact on earnings for miners.
Earnings will also depend on whether CUF will increase lump sales compared to fine sales. Last Q lump sales were 34% down on previous Q even as fine sales were sharply up - however, the difference in price received for fines was almost US$30 less per wmt as per Q report.
Some miners are cutting back in production (probably good to ease oversupply pressures) but also involve job losses for some:
...it's no surprise that the share prices of the world’s four biggest miners have tracked lower over the first two months of this year. Shares in Vale, the big Brazilian miner, are down more than 14%, followed by BHP with an 11% drop, Fortescue with a 10.8% slide, and Rio Tinto with an 8.5% fall.
Shares in Kumba Iron, the South African iron ore miner controlled by Anglo American, eased last week (and are down more than 11% year to date)..
Kumba cut nearly 500 jobs last week as it formalized a lowering of output.
Seems like the near term outlook is somewhat negative - but then so have the markets for the last couple of years - what's new.
CUF Price at posting:
1.3¢ Sentiment: Hold Disclosure: Held
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