No one is looking at this quarter but future quarters will be dramatically affected. With China in a definite slowdown that is now exacerbated by hundreds of millions of retail traders losing their life savings, this can bring down the Chinese economy like 1929.
Then you have the slowdown of Europe at the same time and we have a worldwide recession with HUGE iron ore glut.
How can Iron Ore price fall so fast????? This is like a casino
This is a stunning drop if it was $54 last week. How does this affect CLF's future revenues?
Who is this even over $3 if Iron Ore is now at 10 year low?
The price of iron ore, the main ingredient in the steel making process, dropped to $44.10 per tonne, a 10-year low, Reuters reports.
The market crisis in China and concern regarding decreasing demand out of the country are weighing on iron ore prices.
"A lot of steel mills in China are shutting down blast furnaces for summer maintenance. Also the entire economy has been in a destocking cycle, including iron ore, and there is no sign yet of any restocking," Georgi Slavob, head of research at Marex Spectron said to Reuters.
Do we break $2 today or Friday?
Do you want to throw up?
Do you want to jump off of a cliff?
Are you mad how they conned you with pump and dump Press Release and no insiders has ever touched this stock?
This is pretty bad
Shows you how much people want to dump and so few buyers
6 days DOWN RED from -4-9% a day.
No buying or selling now. Just sitting here at $2.17 with no trades for 20 minutes.