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Speaking of the cure for low prices, it's estimated 40% of China's iron ore mines have suspended...

Speaking of the cure for low prices, it's estimated 40% of China's iron ore mines have suspended operations as the mineral's low price has them losing money. Good enough, but the pain is apparently not yet great enough for VALE which says it will continue forging ahead to increase ore output. Earlier: Baosteel shutters a steel plant.
Comments (4)
  • sheeple2012
    , contributor
    Comments (203) | Send Message
     
    sounds bullish for global growth! buying more SPY and EEM here...
    27 Sep 2012, 03:52 PM Reply Like
  • Blutopaz
    , contributor
    Comments (95) | Send Message
     
    Thats the point in owning VALE. Its the lowest price producer. They can keep operating and supplying and not have to go through the re-start costs of starting/stopping business. Still a good buy in the 18 range.....BluTopaz.
    27 Sep 2012, 04:00 PM Reply Like
  • Hellz
    , contributor
    Comments (171) | Send Message
     
    Aren't RIO and BHP lower cost?
    27 Sep 2012, 05:41 PM Reply Like
  • kmi
    , contributor
    Comments (4215) | Send Message
     
    One issue to be aware of is that lower costs make non-Chinese production more attractive to Chinese consumption as the Chinese produced product is inferior, i.e. international production may be favored over domestic in China.
    27 Sep 2012, 07:35 PM Reply Like
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