No, I fear timmy's wife may be I'll, and his absence doesn't bode well. The price hasn't dropped far enough to scare him off. It may still bounce from here, or not. But there is enough to argue the case either way.
Well he did like to provoke the bears pretty hard, so he has a lot of enemies here who'd be busting to stick the knife in now IO's hovering around $90. IIRC his call was around $110 for this year.
Shame to see him go really, he did almost seem knowledgeable and intelligent when he wasn't so busy winding everyone up. Agree it's very odd to have just disappeared off the radar. Maybe he's been retrenched, and is waiting for the confidence boost that landing a 300k+ job provides before returning here to inflict more pain.
"It were not best that we should all think alike; it is difference of opinion that makes horse races." - Mark Twain on why he avoids discussing house prices over at MacroBusiness. "Buy land, they're not making any more of it." - Georgist Land Tax proponent Mark Twain laughing in his grave at humourless idiots like skamy that continually use this quip to justify housing bubbles.
Well he did like to provoke the bears pretty hard, so he has a lot of enemies here who'd be busting to stick the knife in now IO's hovering around $90. IIRC his call was around $110 for this year.
Shame to see him go really, he did almost seem knowledgeable and intelligent when he wasn't so busy winding everyone up. Agree it's very odd to have just disappeared off the radar. Maybe he's been retrenched, and is waiting for the confidence boost that landing a 300k+ job provides before returning here to inflict more pain.
He stuck around last time when it dropped lower. No, I think something is up. Redundancy wouldn't have bothered him that much.
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
He stuck around last time when it dropped lower. No, I think something is up. Redundancy wouldn't have bothered him that much.
Maybe Jimmy Timmy has been sent to South Africa again on short notice?
There are some people who seem angry and continuously look for conflict. Walk away, the battle they are fighting isn't with you, it's with themselves.
The first lesson of economics is scarcity: There is not enough of anything to satisfy all who want it. The first lesson of politics is to disregard the first lesson of economics. ~ Thomas Sowell.
Who was the fool, who the wise man, who the beggar or the Emperor? Whether rich or poor, all are equal in death.
The Port Hedland Port Authority has released its June shipping figures and the numbers are a little bit of surprise to me. Total shipments fell 7% to 33.6 million tonnes (mt).
In aggregate terms, China accounted for much of the fall but its share still rebounded strongly because other nation’s demand fell faster.
There is no obvious reason for this. The main users of the port are BHP, FMG and AGO and nameplate production is higher than this. Indeed, shipments were higher in March, before peak output was reached. AGO has been laying off staff but has said nothing about winding down output. It only ships a little over 10mt per annum anyway.
The likely conclusion is that either one or all of the miner’s are rationing stock to protect the price. That may seem sensible but also risks missing volume targets. Quarterly production and sales reports just got more interesting.
You can only export what people are willing to buy. It’s not good enough to load a ship with out someone ready and able to deposit money in your account afterwards. (Not all iron ore is contracted into infinity)
To say they are playing games to keep prices up by marginally cutting supply in an already gluttonous IO market is unlikely but surely possible. Realistically many miners are better off pumping supply for a few dollars less then such games.
Iron ore production rates can not continue like they where when steel mills are full of final product, and the storage warehouse are filling with IO.
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