merrill lynch valuation at 9.80, page-24

Quote: "June 26 (Reuters) - The world's steel makers may be in for
another year of hefty price rises for iron ore, thanks in large
part to China's booming industrial sector.
Analysts predict that the prices mining companies charge
steel mills for iron ore will rise as much as 20 percent in the
next shipping year starting April 1, 2008, which would mark the
sixth straight year of increases. "

Comments: If you have done a little research, this kind of view is normally a good sign of market topping.