Dont believe what the Chinese are saying about Iron Ore & Coal. They are importing more of each every year but they down ramp prices by crying poor.
While our miners vie for the Chinese market, the Chinese Government co-ordinates their Companies' buying.
Remember a few years ago when the Rio execs were jailed for collecting market data in China to position Rio & BHP to negotiate an improved annual contract.
Our Government via Austrade should centrally negotiate with the Chinese Government rather than the Chinese being allowed to 'devide and conquer" and a Sydney based Iron Ore and Coal futures market would also help.
