Mensajepor scblason » Mar Abr 18, 2017 11:27 pm
Los muchachos de SeekingAlpha tampoco ayudan...
Global iron ore, steel prices headed for further losses, Axiom's Johnson says
Apr. 18, 2017 6:45 PM ET|By: Carl Surran, SA News Editor
Iron ore prices are at "significant risk" for further declines over the next 3-4 months, which likely will pressure steel prices globally as well as the positive sentiment that has lifted stocks such as U.S. Steel (NYSE:X) and Cliffs Natural Resources (NYSE:CLF), warns Axiom Capital's Gordon Johnson.
Iron ore prices could be driven to "scary" lows, Johnson says, by "structural oversupply, and destocking that appears to have taken hold amidst record inventory levels; and Chinese Wealth Management Product investors now betting that iron ore prices are headed lower in the overnight market."
Top producers Vale (NYSE:VALE), BHP Billiton (NYSE:BHP) and Rio Tinto (NYSE:RIO) all finished lower in today's trade as iron ore prices fell 5% to near six-month lows.