volumes

As I stated yesterday it is not the relatively high price of IO that might be the issue it is the volume of IO that the current large foreign buyers commit to going forward and that is simple mathematics. after all they don't have to buy any IO if they don't want to - the price fixing method is for one year so you will need to see exported volumes of IO maintained/increased to see these stocks hold or improve in the future. the fact that the overall market is very ordinary obviously doesn't help.In addition people like Fortescue probably don't help matters by saying that they are going to expand production exponentially ASAP. The likelihood then is that the supply/demand ratio will get very out of whack in favour of the IO buyers.

cheers