Maxe Paul

BHP, Rio Tinto Profits to Bottom Soon

Of course they need our Aussie ore, we do them a favour by letting them negotiate contact prices, and their greed (China) now has them arresting Australian people on trumped up charges and trying to bully our mining companies because they don't like the price?

Buy it on the spot market then you FCN idiots.


On Sep 08 06:20 AM Ben Gee wrote:

> Iron ore producers are betting that steel makers need their product
> more than they need their market. I wish them luck. I hope they know
> what they are doing.

Is China Attempting to Lower Commodity Prices with a Buying Strike?

Although Chinalco was the saviour for Rio at the time, the March doomsday period, the deal was very one sided in Chinalcos favor. In the end it was deemed by shareholders that a capital raising would be fairer for all concerned.

Chinalco could have offered a better deal but they played high stakes poker IMO, and lost the key hand, though do not forget they took up their shares in the capital raising at a substantial discount to the Rio share price.

I do not believe Rio made a fool of Chinalco, but rather Chinalco "lost face" which is in many respects in China one and the same. In Australia we see it as a "that's business" moment.


On Jul 10 05:04 AM Ben Gee wrote:

> Rio used Chinalco to get a better deal. Was that a smart move? We
> will see in the coming months. If China could forced commodity prices
> up by over buying, I guess China can do the opposit. It appear that
> China has enough in store for a few months. Can Rio live a few months
> with low commodity prices? Was it smart to make a fool of your best
> customer?