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Cliffs Natural Resources Inc. Message Board

  • imaginejml@sbcglobal.net imaginejml Jan 10, 2014 1:52 PM Flag

    Cut-and-pace some paragraphs from a report yesterday about IO producers. They are as preplexed as we are:

    "We've seen the iron ore miners across the board from the start of the week in a downward stretch," Mr Lucas said. "That's really surprising."

    He said recent production numbers and forecasts suggest the iron ore miners will record good first half earnings in February.

    Mr Lucas believes the current lacklustre performance is due to negative market sentiment.

    "It's the market worrying about China - whether or not it's actually slowing down - and that's why you're seeing some negative movement," he said.

    He expects the falls to subside by tomorrow or Monday.

    Shares in Rio Tinto, BHP Billiton and Fortescue Metals Group are under pressure for the fourth straight day as concerns about a slowdown in China overshadow positive data released by the Port Hedland Port Authority yesterday.

    Total exports at Port Hedland, in WA, totalled a record 29.9 million tonnes in December, an increase of 12 per cent on the same month in 2012.

    Sorry if someone already posted this,

    Thin it makes an interesting perceptive.

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