Has anyone realised that IRON ORE has just completed a full super cycle, with 5 waves complete plus ABC correction which took it sub 100 ?
What happens next ?
Another super cycle......rinse repeat.......starting with wave 1 up again ( green arrow )
In 4 months, Iron ore 62% fe has appreciated 70% approx , the ATH of 215.17 will be well and truly eclipsed in the course of time.
Now from what i can understand AISC for NBR is still considered around $72/pt going by a recent interview with the CEO and we must also take into account that the FE grade is 58%, so they wont get the 62% fines price, one also must assume that shipping costs would be an add on too.
Lets be very conservative and say AISC for NBR is $120 p/t, what would a 58% FE discounted price be ....$130?
So even in the early stages of the next super cycle, NBR would still be profitable i would think if they were given the green light to produce now .......
Food for thought.
imo
Has anyone realised that IRON ORE has just completed a full...
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