"low cost environment", "extreme circumstances".... aren't we still in historically high IO pricing environment? I'm not sure why everyone swallows the argument that it had any hope of settling up at US$110/tn
http://www.indexmundi.com/commodities/?commodity=iron-ore&months=360
is there something amiss with this graph or has anyone got a better one which shows we are currently at a low ebb in the last 20-30 year history of IO pricing?
Andrew.F, page-10
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