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  • Iron Ore to hit US $40 a tonne

    Just been reading an interesting article by a guy named Andy Xie who predicts iron ore will hit US $40 a tonne this year, dont dismiss this figure as this same economist based in Shanghai, he was one of the few to acurately predict the Asian crisis in 1997 and the Sub prime mortgage crisis in 2008.
    So i think i will be passing on steel for quite some time as it simply aint going to be worth the petrol to get the damn stuff to the yard.

  • #2
    Steel dropping? Your gonna need a bigger truck
    How much petrol do you use to drive to the scrap yard? is it that far away?
    Buying eWaste link here

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    • Pommy Picker
      Pommy Picker commented
      Editing a comment
      Scrapyard is only about 15km but at those prices i think i will stick to non Ferrous lol.

  • #3
    Wasn't hard to see the morgage crisis lol.. And the way the government is talking here about tapping our super to buy a first home that exact same thing will happen here but worse.. It won't stay that low forever something that's finite can't ..

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    • #4
      The articles I've read have also stated that once it hits that mark some of the major players will just buy up as its to cheap causing some price rise

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