No one wants to touch iron ore because China is slowing down and all their steel mills are losing money, it seems like the only way this turns around is if all the smaller volume producers go bankrupt, or maybe that‘s the plan, maybe the big firms will cut production when the competition is dead.What say you?
Not only iron ore, but copper, steel, aluminum and oil also. Its been really pretty crazy to watch. VALE, FCX, AA, and oil stocks like MRO have all gotten destroyed. That being said, I'm going to buy some to hold long term for sure. Even if they dont rally anytime soon I'm ok with that, but I almost always buy major crashes as long term they normally pay off.
