Stephen118, you're absolutely spot on. Here's the proof. When TNG commenced its meteoric rise in March, the spot price of IO fines (62% FE) was still about $US125/tonne. Since then, TNG's sp has risen almost 500% and the price of iron ore is down 25%. We can now kill this theory. The sell off this week is healthy and reflects profit taking given the huge run up in 4 months. I'm therefore surprised TNGer's are surprised about the sp movement in recent days and are digging deep for answers. I'm waiting for someone to link the sell-off to the atmospheric pressure on Jupiter or the number of times we have hot dinners.
TNG Price at posting:
23.5¢ Sentiment: Buy Disclosure: Held
