spot prices

Oh dear! But let's not get too despondent and woe is me..

Excerpt from "Dow Jones Newswires" Diana Kinch - August 23rd:

"Ibram's Ms Rodrigues said the current weakness in the iron-ore market "is more than anything a reflection of the European crisis."

Ms Rodrigues noted, however, that market analysts haven't yet revised downward their expectations for average annual spot iron-ore prices of around $US150 to $US160 a tonne this year, which indicates prices are expected to recover. "We could see an upturn in 30 to 40 days, especially if we get positive economic news from Europe," she said.

Vale said in an emailed statement last night that it expects ore prices to improve in September."

(NO idea who or what "Vale" is.)

Yes I picked out the good bits - but world opinion's far from ALL doom and gloom , this report is telling us.

Chins up - I'm holding.