Bit of a large dump for all Iron Ore miners, and a big sense of fear is running through the ASX at the moment. A sit and wait scenario. What the journo's are not saying:
a) Iron Ore historically moves down this time of year. eg Chinese Lunar New Year holiday. b) Poor Export Data was largely based on exports to Honk Kong. c) Northern Hemisphere has had a bitter winter, with large capital infrastructure projects, brought to a halt, the reason why steel mills have not be reordering iron ore, and 89 million tonnes have been stockpiled around ports.
A sit and wait scenario until these markets settle down. High grade Manganese will be always in demand. The extra sweetner for Wilcherry Hill.
A good video from the Manganese Institute. Follow the link. https://www.youtube.com/watch?v=AkF2AazX4b0
TRF Price at posting:
8.0¢ Sentiment: LT Buy Disclosure: Held
