Member Info for Chris2

China has reached a point of no return in its battle to contain what could be the biggest property crash the world has ever seen, experts believe, creating a perilous moment for the country’s Communist leadership and the global economy.

As western countries stand on the edge of a potentially ruinous recession in the coming year, China is also facing a slump thanks to “total collapse” of confidence among ordinary people in the once-buoyant housing market, the continued ravages of Beijing’s draconian zero-Covid strategy and an extreme heatwave that is affecting the supply of power and food.

Alarm is spreading in China that tough times are on the horizon, with the chief executive of Huawei, Ren Zhengfei, causing a sensation this week when he warned that the chill from economic downturn would be “felt by everyone” for the next decade.

Lifestyle Company

Moody’s downgrades mining sector to negative.
https://www.mining.com/moodys-downgrades-mining-sector-outlook-to-negative/

Anglo American (AAL) has a varied portfolio but the decline in metals prices in the first half of the year was widespread enough to knock its underlying cash profit down by 28 per cent compared with 2021. This has led to a dividend cut and a difficult first earnings release for new chief executive Duncan Wanblad, who took over from Mark Cutifani in April.

Long-term outlook
Looking beyond 2021-2022, Fitch expects iron ore prices to follow a multi-year downtrend.

“We maintain our view that iron ore prices will consistently trend downwards, as cooling Chinese steel production growth and higher output from global producers will continue to loosen the market.”
In the longer term, Fitch forecasts prices to decline from an average of $155/tonne in 2021 to $65/tonne by 2025 and $52/tonne by 2030

Lyndon69. Not enough research by the look of it.
If you had researched you would have realised the share price might drop like a stone.
Thats what I did.
Admit it. You researched by reading Max111 and his merry gang of losers.
Still you are happy writing about me which is weird in itself.

Lyndon69. Why do you come on here?
I would imagine it’s to get confirmation and comfort that your decision to invest here was a good one.
For heavens sake don’t ever listen to the strange people that say otherwise.
They are just weird don’t you think?

Goldman Sachs
All in all, the broker appears to believe that the iron ore price peak is now long behind us and it could be a downward trend from here.

Goldman Sachs’ forecasts are as follows:

US$120 per tonne in 2022
US$100 per tonne in 2023
US$80 per tonne in 2024
US$75 per tonne in 2025
US$81 per tonne in 2026

In its iron ore price forecast 2025, Fitch Solutions suggested the price could drop to $80/tonne. Its iron ore price forecast for 2030 was even more bearish, predicting the price to keep falling to $50/tonne by 2031.

“We maintain our view that iron ore prices will consistently trend downwards, as cooling Chinese steel production growth and higher output from global producers will continue to loosen the market,” the firm said.

In its iron ore price forecast 2025, Fitch Solutions suggested the price could drop to $80/tonne. Its iron ore price forecast for 2030 was even more bearish, predicting the price to keep falling to
“We maintain our view that iron ore prices will consistently trend downwards, as cooling Chinese steel production growth and higher output from global producers will continue to loosen the market,” the firm said.

Aug 3 (Reuters) - Analysts and traders have sharply lowered their price forecasts for platinum and palladium as a global economic slowdown reduces demand, a Reuters poll showed on Wednesday.

The agreement with Anglo American is not about the iron ore?

Alien Metals Ltd (LSE AIM:UFO), a global minerals exploration and development company, is pleased to announce that it has, through its wholly-owned subsidiary Iron Ore Company of Australia Pty Ltd ("IOCA"), entered into a mandate letter providing for an exclusive right to negotiate project funding and offtake arrangements ("Mandate Letter") with Anglo American (LSE: AAL; JSE: AGL), in relation to the Han**** iron ore project ("Han****") located in the Pilbara, Western Australia (Figure 1)

What is it about then?
Perhaps the board’s self acclaimed guru can explain.

They certainly don’t get involved on a whim which is my very point.
They will be projecting the price of iron ore for the next 5 years.
Not as you all do on here and watch the price of silver and iron ore every 5 minutes.

Closed up?
Don’t you mean it’s a massive drop from the $160/t back in April.
And you were the one Max111 that said then it would rocket.

With the price of iron ore dropping and the projected price of iron ore being in the $70/t to $90/t for 2023 any thoughts on what the share price might be if the proposed agreement with Anglo American falls through?
Anything is likely.

DRB83. No I don’t think there will be a sustained increase in iron ore price after Christmas.
In fact I think price will drop 2023 and continue under $100/t for a few years after that.
Probably in the $75/t to $90/t range.
Big decisions for AA and Rod and his team
Could go either way.

Tiggrrr. This isn’t a dating site.
I have said the share price would drop in to the 0.50’s six months ago and gave my reasons why.
At least I have been one of very few that predicted the share price drop, predicted the price of silver would be held down and predicted that iron ore would be held down until at least Christmas.
I pointed out weeks ago that Bill wasn’t up to the job but accepted that he is a great geologist.
I have said all along that this is a lifestyle company making riches for the board including the new appointment. If you don’t agree then that’s fine.
What more do you want?
Doesn’t sound like my mental health is a problem to me.
This is a board for sharing thoughts not a board for abusing and insulting.
If you are getting anxious and depressed over the share price which you have every reason to be then that’s not my fault.
Just listen to all sides of the debate.

I’ll let Max 111 comment on that.
His silence will tell you it’s true.
He could tell us how many shares he owns at the same time.

How many shares do you own Max111?
Some would say it doesn’t seem right if you are posting on here but don’t own any.