We all know that these prices can only be withstood by VALE, BHP, and RIO, so the sooner the white flags get put up the better.
I had a smile on my face this morning when, within 24hrs, FMG had rescinded on a $3.5 bill debt refinancing due to lack of interest, and then BHP placed $1bill debt at the LOWEST price EVER for them at 3%. What does that say about the market....?
