Posted On: 07/23/2014 10:18:15 PM
Post# of 8059
Given Brads comment "and whether the price of Iron Ore recovers",
if we dont see a ship soon the most likely common sense scenario is that once any extra audits were over this year he may be waiting for prices to recover.
But the consensus of holders, including myself, is get the iron out the door because although short term prices may recover the unrestrained insatiable greed fight for greater market share among the big 4 does not bode well for prices long term
present prices are below margin costs for many, esp in China, but as long as the big 3 -not fortescue's margin costs- can put iron in China for 40-60/ton, Bingo is probably right about 70-90/ton prices before 150 again.
if we dont see a ship soon the most likely common sense scenario is that once any extra audits were over this year he may be waiting for prices to recover.
But the consensus of holders, including myself, is get the iron out the door because although short term prices may recover the unrestrained insatiable greed fight for greater market share among the big 4 does not bode well for prices long term
present prices are below margin costs for many, esp in China, but as long as the big 3 -not fortescue's margin costs- can put iron in China for 40-60/ton, Bingo is probably right about 70-90/ton prices before 150 again.
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