buy now for next week or next decade?

The ore wont come out of the ground next week, nor will it next year. So will investors be buying with this time frame in mind considering that the Chinese have a much longer term view in sight, not too mention other factors such as diversity of supply???


Anyway, I am impressed that HAR has hit the bottom imo and has been making some higher lows as late. This should bode well for continued advancements into the winter session when we can only expect to be propped up by a small set of drill results.

The JORC should also contain notes on the prospective resource for the other two areas at Selenge and not just the current Bayantsogt area.

Cheers,

SF





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The Australian

CHINA'S demand for iron ore is likely to pick up in the short term, and the longer-term prospects for the steelmaking material are positive, Australia's Treasury Department said today in a budget review.

"While European demand is likely to remain lower than normal for some time, Chinese demand is expected to pick up in the near term as steel mills restock in the lead-up to winter," it said.

Global steel markets usually soften in the latter part of the year, but the weakness this year was amplified by large-scale cuts to steel output in Europe, scant global credit and tight monetary policy in China, it said.

Australia's iron ore exports were valued at $58 billion in the financial year ended June 30, accounting for 20 per cent of overall exports and supplying more than 4 per cent of gross domestic product, it said.

Iron ore demand will be supported over the longer term by prospects for strong economic growth in emerging Asia, especially China, despite recent global financial turmoil, it said.