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Chinese traders tip iron ore to hit $US70, page-123

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CoalKing

12,956 Posts.

39

12/11/14

11:27

Post #: 14275456
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Originally posted by Hotfire ↑

CK...I think the players want to cripple Atlas at the expense of others. How FMG hasn't been hit harder with its debt level is stunning in itself.

Imo it shows that AGO is expendable, whereas FMG needs propping.

The iron ore sector is an absolute disaster. Why the Chinese aren't mopping these junior producers up and in turn shutting down the rubbish they produce locally is beyond understanding.

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They are setting up the $2.90 level on FMG, lots of traders will enter, then they will smash it lower and hit their stops, then grind it lower to $2 over 2015 blaming the IO sector. Normal trading house practice going on here

CK

AGO Price at posting: 22.0¢ Sentiment: Sell Disclosure: Not Held

BCI Price at posting: 79.0¢ Sentiment: Sell Disclosure: Not Held

FMG Price at posting: $2.97 Sentiment: Sell Disclosure: Not Held

MGX Price at posting: 41.2¢ Sentiment: Sell Disclosure: Not Held
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