/biz/ - Business & Finance

>>24974157
>muh they cut their production targets
Do you know what their production targets were prior to the cut?
>before: 347.5 million tons
>after: 320 million tons
27.5 / 347.5 = 7.9%
Has the price of iron one up more than 7.9%?
It's gone up 50%. Do you not understand that if the price goes up 50% it doesn't matter if they produce 7.9% less? It's like OPEC, where they cut oil production and end up making more money through the price of oil being higher.

they just re-opened another mine, production is only going to increase
https://news.yahoo.com/brazils-samarco-restart-mining-five-000615409.html
>Production operations should begin in earnest in the second half of December