What he, and many others are failing to see, is that China has only about a month of Iron Ore stockpiled reserve, and if what I am reading is correct, they even have less than that. (Maybe a third of that lol.
So, will they start buying madly again, or will they close their steel plants down altogether?
If what has been circulated around about China's Central Government wanting to relocate 600million of their people to the cities, then my guess is that, as soon as the contracts for the iron ore have been finalised and signed, the buying will start madly all over again.
Lets see shall we??
I don't care where Tony will get the money we need to move ahead. All I care for, is that he will get it. The sales of Iron will then follow. And I hope that he will keep us in suspension till the whole storm has blown over.
PLV Price at posting:
15.3¢ Sentiment: LT Buy Disclosure: Held
