Bottom was made around 16.84 and now the short covering and value players will run it up to the mid 20's. As China growth stabilizes and rebounds, IO prices will do the same. Rotation from safety plays into this beaten down sector. Probably be in mid to upper 40's by years end and still have a PE of 15+-. IMO
I hope that is right. I started acquiring CLF in February and I am still way under water. I wouldn't be surprised if the stock dips tomorrow, as speculators take profits. As a long-term investor, I am more concerned where it will be in five years.