Replies to post #5494 on The Rising Influence of Rising Affluence

[OakesCS]

i suspect that undue emphasis is being given to the automobile industry's consumption of iron. Iron consumption for pipe and pressure fittings is probably more significant (that isn't just a WAG). That iron will not be supplanted by aluminum. Iron consumption is very much tied to oil and natural gas production, refining, and transportation; i suspect the linkage is getting stronger.

[jbog]

Northern Iron Ltd. said Monday it has received an initial takeover proposal from Swiss-based trading house Prominvest AG worth 525 million Australian dollars ($550 million), which is higher than an earlier A$518 million cash bid from India’s Aditya Birla Group…

Wow, they boosted the bid a whopping 1.2%, I stand corrected.