Out before the flood?

Big Aussie miners are losing support for their flood the market strategies.

Summary: Rivals and shareholders are expressing dissatisfaction with the market flooding tactics of major iron ore miners BHP Billiton and Rio Tinto. Share prices for the major miners have fallen sharply over the last fortnight. Other critics of the miners include the WA premier, the union movement and HSBC.

Key take-out: The outlook for the iron ore price is weak as China’s steel consumption peaks and starts to decline.

Key beneficiaries: General investors. Category: Mining stocks.

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