RE:RE:Hopefully not bad news for MMS Ya honestly.... this reads like good news to me. Unless the Chinese gov is cutting those jobs in Australia LMAO. Less depressed prices and less Chinese production == more foreign imports and more ROI in MMS!!! Cigars for everyone!
mtvrdon wrote: Seems like this might be good rather than bad news. China paring production back means we should continue to see strong ore prices which are important to turning Macarthur's property into a producing mine. The global demand for steel isn't going to go away with the number of infrastructure projects taking place in Russia, the US, India, etc. Having the market saturated with artificially cheap Chinese steel serves nobody's interests at the end of the day. We want the prices to be good and high a couple of years down the road if/when production starts to ramp up for MMS.
At very least, there are two ways to view this news. I think that overall, it's probably good for MMS. In addition to Iron, MMS has a hot lithium market working it its favour.