We have seen the results for most of the mid player now. AGO is bleeding badly, BCI not much better. At least ARI took the decision to get the cost down to a significant lower level that would allow them to make some money soon and not be a hostage to lower prices unless they crash more than 30% from here on. Given the coming lower cost of approx A$57 dmt to china this will provide a welcome relief for cash flow.
I think ARI is the best positioned for survival and recovery, their consumables will shine next year as most of the expansion is done. Steel should hold its own...DYOR
ARI Price at posting:
22.5¢ Sentiment: Hold Disclosure: Held
