so now you want to squirm and claim that the Iron Ore Market which has existed for many decades is not the kind of Iron Ore Market you consider when making decisions on it's price because it's not like gold
That was my original claim. I was responding to poontang about gold.
You're really bad at this...
Anyway, forgetting Rastus's failures. Iron ore volatility continues. $57.
All the moron's laughing because I said goldman sachs had their price prediction wrong for this year, how's that humble pie taste?
But Roddy, iron ore futures are crashing. I'll point out that futures necessarily an indicator of future spot prices. Anyway, you're only a construct so it doesn't matter.
< $55/t - spot prices rolling over, futures following suit on Government measures to curb speculative trading.
But wait, wasn't Timmy the Trollie assuring us all a few weeks ago that the rally was based on 'fundamentals'?
Egads! Minsky! Ponzi! Rush for the exit! etc etc ...
"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.
Real demand for steel in China dropped at least 7% in April from the year before, according to Citigroup’s Tracy Liao estimates, so it should not be a total surprise that the frenzied speculative buying in Iron Ore, Rebar, and various other industrial metals in China has crashed back to reality as volumes plunge, dragging The Baltic Dry Freight Index with it as yet another government-manipulated 'signal' collapses into a miasma of malinvestment and unintended consequences.
Real demand for steel in China dropped at least 7% in April from the year before, according to Citigroup’s Tracy Liao estimates, so it should not be a total surprise that the frenzied speculative buying in Iron Ore, Rebar, and various other industrial metals in China has crashed back to reality as volumes plunge, dragging The Baltic Dry Freight Index with it as yet another government-manipulated 'signal' collapses into a miasma of malinvestment and unintended consequences.
Actually, this is not really "news". Anyone with a cursory interest in commodities trading know what has been happening since the deregulation of commodities trading in China. Just because a puppet construct starts moving to its rods and levers doesn't mean a return to the "good old days."
Anyway, I thought commodities were irrelevant to the suburbs now and it was all about tourism driving the values of their homes. Kind of odd that the new paradigm hasn't taken off.
Actually, this is not really "news". Anyone with a cursory interest in commodities trading know what has been happening since the deregulation of commodities trading in China. Just because a puppet construct starts moving to its rods and levers doesn't mean a return to the "good old days."
Anyway, I thought commodities were irrelevant to the suburbs now and it was all about tourism driving the values of their homes. Kind of odd that the new paradigm hasn't taken off.
I'm guessing, but now, due to the speculative nature of iron ore, we are about to see a daily reduction of 20%?
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
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