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The Chinese steel sector seems to be recovering, with prices for 63.5% iron ore fines to Qingdao...

The Chinese steel sector seems to be recovering, with prices for 63.5% iron ore fines to Qingdao hitting $117 a metric ton, up 29% from a multi-year low on Sept. 7. In mid-September, 29 vessels were chartered to transport iron ore to China, the largest weekly volume since late March. The trends come after the government OKs major infrastructure projects. Stocks that could benefit include BHP, [RIO, VALE, CLF. (previous)
Comments (17)
  • Paulo Santos
    , contributor
    Comments (17963) | Send Message
     
    Top, it's already heading down again.

     

    http://reut.rs/P4gOno
    15 Oct 2012, 07:21 AM Reply Like
  • maverta
    , contributor
    Comments (329) | Send Message
     
    always the pessimist. if I would have listened to you on your calls, I'd be losing money. try half full instead of half empty.
    15 Oct 2012, 07:13 PM Reply Like
  • Paulo Santos
    , contributor
    Comments (17963) | Send Message
     
    You would? I started predicting iron ore would drop in January/February. The only thing I'm predicting now is simply that it isn't over.

     

    How could I be wrong when I called it perfectly?

     

    I bet if I try to look up what you were saying back in january/february, you were already calling for higher prices.
    15 Oct 2012, 07:18 PM Reply Like
  • Paulo Santos
    , contributor
    Comments (17963) | Send Message
     
    There you are, March 17 - I started saying it would fall earlier than this, but this was easy to find - and you complaining about my negativity after having bought CLF (certainly over $50, it closed at $49something that day, but you said you had bought it earlier):

     

    http://seekingalpha.co...

     

    It's at $41.14 right now, after having recovered a lot ...
    15 Oct 2012, 07:22 PM Reply Like
  • Paulo Santos
    , contributor
    Comments (17963) | Send Message
     
    Maverta, here's you on feb 24:

     

    "This guy Santos must be short. These negative basic material articles are coming too often. Santos, there is no need to make your point daily. Guys who make their life's work based on THEIR predictions are usually wrong. I'd say that this is probably the case again. Time will tell but I will revisit your posts in the future...and I don't mean next week. "

     

    CLF was at $67.86

     

    This is my article you were commenting on:

     

    http://seekingalpha.co...
    15 Oct 2012, 07:25 PM Reply Like
  • Isaac Silbermann
    , contributor
    Comments (87) | Send Message
     
    Totally pwned. :)
    15 Oct 2012, 09:05 PM Reply Like
  • James Duade
    , contributor
    Comments (291) | Send Message
     
    Paulo, do you follow Cliffs? I share your sentiment on the stock, but find your insight lacking a great deal. In the future I'd appreciate if you don't pan a stock because it's lumped in with a specific industry. I find your comment the equivalent of saying "technology is going down sell Apple, sell Dell, sell Cisco". Iron ore is a lot more nuanced than that, I would expect a bit more sophistication from a fellow SA contributor.

     

    All the best,
    James
    15 Oct 2012, 11:05 PM Reply Like
  • Paulo Santos
    , contributor
    Comments (17963) | Send Message
     
    James, if iron ore goes down CLF suffers - there's nothing more to it.

     

    If you DO think there's more, you'll end up surprised (if iron ore goes down, that is).

     

    I've said it often - it doesn't pay to be too detailed. The market has trouble reacting to large boulders, it pays nothing to look at the little stones.

     

    (and this is nothing like saying what you said about tech - there the companies sell different stuff - the thing with commodities is that they're commodities. Fungible)
    16 Oct 2012, 06:27 AM Reply Like
  • blueice
    , contributor
    Comments (3013) | Send Message
     
    Mr Santos, we are very fortunate to have your brilliant mine here!

     

    BTW, how is your country handling the EuroCrisis ?

     

    Will the Nobell Prize be of any help?
    16 Oct 2012, 11:41 AM Reply Like
  • Paulo Santos
    , contributor
    Comments (17963) | Send Message
     
    We've just had the 2013 budget presented and it's horrible, filled with tax increases, spending cuts, etc. After a while, Portugal should seek a deal similar to Greece's - it's stupid not to.

     

    The Nobel prize makes no difference.
    16 Oct 2012, 11:48 AM Reply Like
  • TwistTie
    , contributor
    Comments (2477) | Send Message
     
    Copy that.
    15 Oct 2012, 10:35 AM Reply Like
  • Truthiness
    , contributor
    Comments (11) | Send Message
     
    Watch BDI
    15 Oct 2012, 11:14 AM Reply Like
  • blueice
    , contributor
    Comments (3013) | Send Message
     
    Market watch, needs to be watch...Another story they did not get right...
    15 Oct 2012, 12:50 PM Reply Like
  • Whitehawk
    , contributor
    Comments (3129) | Send Message
     
    This was likely a blip due to the golden week holiday. However, there is also hopium out there for China stimulus.
    15 Oct 2012, 03:18 PM Reply Like
  • bronto
    , contributor
    Comments (7) | Send Message
     
    Alderon..Symbol: AXX
    Great story, take a look
    15 Oct 2012, 09:50 PM Reply Like
  • Tempo Dulu
    , contributor
    Comments (320) | Send Message
     
    the rally will only be sustained if the Chinese economy improves.
    15 Oct 2012, 11:01 PM Reply Like
  • ATG1977
    , contributor
    Comments (159) | Send Message
     
    CLF underneath 40 would be a good entry point - gotta see what earnings brings - damn stock is hella volatile
    16 Oct 2012, 12:13 AM Reply Like
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