So What is Added Reality..?
November 1, 2012 § Leave a comment
Can’t recall the guy’s name right now, but he’s out of oilprice.com and says:—
“The price of iron and steel is likely to fall in October-December 2012 following the drop in oil price.”
Which may well be the case though hardly the whole story.
Izaaks@axios is on Dave Einhorn’s list and the latter, a hedge noted for shorting is presently doing that to iron ore, factoring figs <$100.. say $60 bottom. Which is WAY DOWN.
Methinks, tis not so much the greater supply capacity of Africa and others like Australia, that is doing this as I recall twas Izaaks would have all believe, but more that investors are seeking out more sustainable growth scenarios.
So.. answering my own header question: Added Reality is better (informed) reality. Heh-heh.. 🙂
ps: Of course even this predates Sandy. Once the cleanup and restarts are underway wouldn’t anyone expect those rebuilds find needed steel capacity etc.