im expecting a Lion's share of iron ore investors entering lithium plays over the coming months as iron ore is expected to slIp under US$100 per tonne
if only most of them knew about avz minerals, they may very well regain their losses here over that time once ML signed
The major miners extended their recent losses on Friday as the iron ore price fell below $US110 a. tonne. Krystle WrightOn Friday, investment bank UBS downgraded heavily exposed Fortescue to a “sell” recommendation for the first time in 18 months, while cutting its price target from $18 to $15. It comes three months after the broker put a “sell” rating on Rio Tinto.
UBS analysts admitted that iron ore fundamentals were deteriorating faster than expected because of the sharp slowdown in property activity in China amid the country’scrackdown on steel production.
The move by UBS reflected a cautious sentiment developing across markets regarding heavily exposed iron ore stocks, as some fund managers cycle them out to be replaced by more diversified players.
https://www.copyright link/markets/commodities/panic-selling-sets-in-as-iron-ore-collapses-20210917-p58sh6
