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No wonder one of our scrap metal recyclers closed down. Just was...

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ravishankaray

11,085 Posts.

26/10/15

12:18

Post #: 16253109
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Originally posted by pints ↑

Mineral sands company Amex (AXZ) recently won every point when they took a Chinese company (MCC) to an arbitration court in Singapore and are consequently owed money from MCC for breach of contract.

I understand that during the hearing they engaged a World iron ore expert who said that stockpile of Fe in China a low and that the pressure would force Fe prices upward for the balance of this year, He also estimated that iron ore prices will return to $80-100/tonne over the next few years (timely for AXZ.

One interesting statement that he made was that it was not, what the majority of analysts look at, being supply, but that the price was more dictated by BHP and Rio's shipping strategy!

Time will tell. But at $22/t op ex, AXZ looks a good bet to make a lot of money once in production.

The port construction contract is expected to be consummated very soon. Have a look at their web site.

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No wonder one of our scrap metal recyclers closed down.

Just was told I'll get $10 per ton for scrap when I take to Simms Metals.

Unbelievable.
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