Having ridden it all the way up and all the way down I think the...

Having ridden it all the way up and all the way down I think the market is shit scared of The Chinese pulling the rug on the iron ore price again. They have already attempted to jawbone it down again and when that didn’t work last time they imposed the steel production limits. That won’t happen this time I think as that may lead to a centrally planned depression which would probably lead to the demise of the current leadership. Latest talk is of the single desk set up whereby all sellers must deal with a single buyer. A bit like the old AWB set up. I think the chances of that happening are slim.