"The most-active May iron ore on the Dalian Commodity Exchange was up 4 percent at 437.50 yuan ($67.15) a tonne by the midday break."
This does not bode well for those who pinned their hopes on a market crash serving up cheap houses. The non mining sector is booming, if mining has seen the worst of it already, what will be the next thing the bears will latch on to?
Rio lost 1.2 billion in 2015 BHP lost 7.8 billion in half of 2015 Vale lost 12.13 billion in 2015
You misunderstood the end of year report - they all made a lot of money but they used it to write down assets due to the THEN low prices.
This has taxation benefits but also clears the way for some outstanding results this year even if this uptick to ~$60 holds longterm.
Definition of a doom and gloomer from 1993 The last camp is made up of the doom-and-gloomers. Their slogan is "it's the end of the world as we know it". Right now they are convinced that debt is the evil responsible for all our economic woes and must be eliminated at all cost. Many doom-and-gloomers believe that unprecedented debt levels mean that we are on the precipice of a worse crisis than the Great Depression. The doom-and-gloomers hang on the latest series of negative economic data.
It's just temporary price manipulation. The boys at the top scalping profits as the system collapses.
Chinese Exports Plunge 25.4 Percent Compared To Last Year March 9th, 2016
We just got more evidence that global trade is absolutely imploding. Chinese exports dropped 25.4 percent during the month of February compared to a year ago, and Chinese imports fell 13.8 percent compared to a year ago.
For Chinese exports, that was the worst decline that we have seen since 2009, and Chinese imports have now fallen for 16 months in a row on a year over year basis.
"The most-active May iron ore on the Dalian Commodity Exchange was up 4 percent at 437.50 yuan ($67.15) a tonne by the midday break."
This does not bode well for those who pinned their hopes on a market crash serving up cheap houses. The non mining sector is booming, if mining has seen the worst of it already, what will be the next thing the bears will latch on to?
Yeah, iron ore has had foolish forecasts indeed....
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