From Bloomie comes Caroline Bain at Capital Economics:
“There will be a sharp move down in the second half, when people realise that the apparent shortage that they’ve seen in the second quarter was temporary,” Bain said on Friday. “There will be a renewed bounce of investor sentiment turning against iron ore. It could certainly go down below $US40.”
…”The spike up is quite a dangerous phenomenon because it’s given producers hope,” Bain said. “The underlying picture hasn’t changed, which is one of oversupply. I think producers will live to regret the price rebound.”
Better late than never!
![CDATA[>
![CDATA[>![CDATA[>