Well clearly a strong rise from it's horrible fall... not a bad thing for Australian economy, and those desperate to see it recover.
Anyone following The Australian on the LNG rippoff ?
Might have to start a thread
Kind of pointless battling puppets and impressionables about commodity prices. Most suburbanites sub-consciously think resources are a driver of wealth in Australia. They've heard the stories of 100K for cleaning toilets in the Pilbara. They will explicitly get excited when prices are high, but will follow the media or a nutty theory when prices fall.
Iron ore is taking a pasting today with more again tomorrow. Trading was halted.
Yep, they are trying to fix prices to their liking while maintaining the benefits of a free market.
Tricky combo.
Guest
1 Dec 2016, 07:06 AM
"Inventory at Chinese ports has been rising.
"It has risen about 30 million tonnes this year so far and the Chinese steel mills are still going strongly but they're certainly not increasing the output of steel in a way that would indicate the price rises that we've seen."
That's rubbish newjez assures me port stocks don't matter.
What a shit metal to invest in. The spot is moving closer to 1/2 it's historical high but RIO/BHP aren't even close to moving back to 1/2 their historical share price high. FMG is doing ok.
That's what happens you have to build miles and miles of tracks and big big boats to haul the shit around by the tonnage only to be used in making buildings and cars that nobody wants right now. Not to mention competing with scrap.
Go for a good metal like gold. You only need an armor truck and Fedex to move it from mine to vault. Very cheap to produce, not capital intensive compared to iron ore, so the gains are exponential. Not to mention miners have optionality - they're mining money after all, so they can wait for spot price recovery. A 10% move in gold spot takes the share price more than 2x or even higher for juniors. Imagine a 100% move in spot price. You're talking 1000% or more movement in share prices. It's a no brainer.
So says the puppet that couldn't see the smash coming amended believed crazy prices for rust was the new normal lol
That's just lie you tell yourself make you feel better about your failure to see the boom in house prices coming.
createdby
3 Dec 2016, 10:19 AM
Go for a good metal like gold. You only need an armor truck and Fedex to move it from mine to vault. Very cheap to produce, not capital intensive compared to iron ore, so the gains are exponential.
Gold producers unit cost is more than $900/oz and requires expensive plants to extract the gold.
Iron ore producers unit cost is $23/t and requires a crusher monkeys could run.
createdby
3 Dec 2016, 10:19 AM
What a shit metal to invest in. The spot is moving closer to 1/2 it's historical high but RIO/BHP aren't even close to moving back to 1/2 their historical share price high. FMG is doing ok.
Just like the gold miners then. Barrack isn't close to 1/2 it's high.
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