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DewDiligence

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Re: Democritus_of_Abdera post# 6574

Thursday, 02/21/2013 4:46:01 PM

Thursday, February 21, 2013 4:46:01 PM

Post# of 30546
Re: Iron-ore pricing

Marius Kloppers (the outgoing CEO of BHP) said on BHP’s FY1H13 CC yesterday that normalized growth in Chinese demand for iron ore will be ~60M tonnes per annum for the next several years, but 100M tonnes of new annual capacity are coming online by late 2013. Putting it all together, Kloppers expects a price decline in the second half of calendar 2013 followed by a resumption of steady price growth from a lower base.

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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