Yes @monkeybusiness - we are certainly calling big bucks with the iron ore price.
Just had another look at my chart - I have a potential double top here with two years ago. That top was formed in February/March. Would need to get above $90 with some confidence to negate the possibility of that double top. One thing I have noticed is that the spread over a year has expanded out to around $12 whereas just opening my diary at a random spot in January the spread was only six or seven dollars so the market has built in a bit of risk.
I just don't think the new government in Brazil will be happy to see Australia reaping the benefit of what was a Brazilian catastrophe. I suspect that every effort would be being made to get Vale back on line.
(20min delay)
