CIA slipped -3.3% on Monday, extending its decline from early January highs to almost 30%, nearly identical to Fortescue’s’ (FMG) performance. However, without the benefit of FMG’s yield, we will unlikely consider CIA in the foreseeable future.
- We see no need to reinvent the wheel from Tuesday’s report on iron ore; the sector, and particularly CIA, is too hard due to Chinese uncertainties.
MM is neutral towards CIA
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