Gaining back some of the price loss since June 12t
Post# of 8054
Gaining back some of the price loss since June 12th would be a minimal gain as the price tanked when news of SEC trade violations hit the market
I think Bingo was referring to gaining back some of the spot price of iron-not pps of the stock.
Btw excellent deep dd posts today-which I'll look at more closely when I get time.
Bingo was replying to grajekks post about companies holding back on selling ore when ore is so artificially low via manipulations now as it was in sept-oct.
price of ore logically cant remain this low for long when agmetalminer said 12-13-10 chinese costs were 150/ton and thus 150/ton would be floor for iron prices and chinas ore quality has decreased since then while the base of their economy has grown substantially-
in fact I just read somebody thinks chinese economy will be bigger than usa by 2016-since USA economy now 2-3 times larger, depending on what measure you use. I dont know how that is possible but the point is Chinas base and thus need for iron-as noted by another article posted by grajekk- has grown significantly
Hopefully cwrn could deal more w fertilizer stocks when iron is so low because I dont think fert price is much affected by spot price of iron.
I hope we get the financials everybody wants soon.
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