glen stevens : mining boom for few more years!, page-12

And by the way, market been saying IO woulnt break 120 floor. Look at the price now. Rumors saying it will bounce hard soon as stockpiles depleted...ha.....

Record low demand of steel but coincide with high steel production capacity...tell you something.... Chinese have been subsidy the industry and will continue to do so... The latest 10 bil steel plant in shenzen will create more excess capacity if not less.

They ask how could the chinese IO miner survive as they mining cost are so high while grade are so low....that's a 64 yuan questions....Chinese gov can subsidy the sector longer than the OZ miner can stay solvent if they needed to.....just look at the recent mess they created in the solar industry.

Cheers all