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IO price seems to have found the bottom of the range with a bit...

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Oscar09

14,658 Posts.

162

15/06/17

15:43

Post #: 25297683
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Originally posted by The Mole ↑

It appears that the total export may be in the order of only 8.28 to 8.42m tonnes this FY. It looked like they may get to 8.76m tonnes.

This is a little disappointing given that KML has turned around ships in this quarter at a rate of one ship every 2.12 days. The best prolonged rate ever.

There have been 33 ships out (or projected) this quarter by 12 June, but there are no new ships listed to arrive in the next 2 weeks. Now this may change, but seems strange after running pretty hot for the first 2 1/2 months it has slowed down.

But it appears (unless something changes quickly) that there may only be one or two more ships out this FY.

But this probably reflects the drop in iron price. Maybe they have curtailed losses by not producing and shipping at the new low prices.

The next 2 weeks will tell whether they suddenly get a spurt on.

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IO price seems to have found the bottom of the range with a bit of luck.

GBG Price at posting: 1.4¢ Sentiment: Hold Disclosure: Held
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