If U runs in the short term, tell me which U stock will go up 1000%.
Obviously, with U having a big one-day move, various industry analysts are going to be talking about the commodity as it's good promotion for their business. On the other hand, if we actually listen to the likes of say Rio Tinto's CEO of Energy, we are told there will be surplus for a few years to come, notwithstanding the longer term picture looks quite supportive for U.
I agree. The recent move up in the spot price only puts us back where we were several months ago, before the big fall to $28. Look, it's not inconceivable that we could see a counter rally against the underlying downtrend, somewhere towards $45-50 but I think price will remain around $35 in the medium term.
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