Rio iron ore output climbs despite glut Production climbs 12% in first quarter despite iron ore price more than halving over past year
RE: Lower copper, iron prices plus ..
The People's Bank of China, under pressure to boost growth following a recent batch of weak economic data, lowered its reserve requirement ratio by one percentage point over the weekend, the most aggressive cut since 2008. The bigger-than-expected move is intended to boost bank lending
Lower copper, iron prices plus glut
...and yet this is up first thing on Monday morning... makes no sense. I agree with driftking - stronger USD, Greece, possibly of flash crash as markets in the US, Germany, UK and China look very toppy.
Try 2..0p by year end if the dollar continues to strengthen, Greece, not to mention US deficit issues!! Just sit and leave miners alone as no 1 knows where its going to be, but now aint the time to buy, its ot further to fall...guaranteed!
Should get a close sub 2800 next week.
Too early to buy in when we are heading to the volatility of the summer (Greece, US interest rates, election, China slowdown, Russia/Ukraine), take your pick of excuses that the media will give but summer is summer and that's where the opportunities lye.
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