RIO reported a record tonnage of ore delivered for last qtr. at 8.30 am. this morning. I missed this, but it would not have made any difference, the price opened approx. 1.6 % higher and moved around the + 2% for the day. sold @ a reasonable best price for day. another one that also cost me .
how to avoid - keeping abreast of shipping / freight level reports etc. and general chatter in the industry about cargo levels and being aware that delivery tonnages are reported approx. 2-3 weeks after qtr. end.
the actual price of iron ore in USD has not changed, but this afternoon after the AUD dropped to 88c. its value in AUD has.
its a good thing i was busy in other sectors as well today to even things up.
