BHP hoses iron ore rocket

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From Yahoo:

BHP Billiton does not expect recent rises in iron ore and coal prices to hold for more than a few months, as the uptick in prices would bring more supply to the market, its Australian chief said on Thursday.

“I wish I could stand here and say this is going to be sustainable. I don’t think it is going to be,” BHP Billiton Minerals Australia president Mike Henry told the Melbourne Mining Club.

So then what should one do with a twelve month time frame…

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.