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Taken from Blomberg 29th September

¡°Credit Suisse Sao Paulo analysts Roger Downey, Ivan Fadel and Leonardo Correa said that Chinese iron ore imports continued to increase.

China's imports of 37 million tonnes in August were about 28 per cent higher than a year previously and indicated an annualised total of 460 million tonnes, the analysts said.

"Chinese domestic iron ore production is simply not growing," they said, predicting Chinese iron ore concentrate production might fall about 6 per cent this year.¡±

Bloomberg

From JoJo AGO Forum
¡°Lots of smoke and mirrors coming out of China who are doing their best to cloud over the real demand and supply situation to keep the iron ore prices in check.

Just remember without Iron ore China can not keep growing, the domestic iron ore production is going backwards fast hence China is more and more reliant on imports.

Just read an article of the huge increase in the Chinese military capabillities and how they grow their army and navy having soon the best equiped army after the USA.

The analyst stated that Chinese government has to keep the economy growing at around 10% per annum to stay in power and keep its people happy.

With all the future plans being it railways, roads, airports new cities and a bridge to Taiwan, it looks like the current Chinese goverment will be in power for a long time to come.

And they will need heaps of iron ore to make it all happen.

Don't be fooled by all the conflicting stories guys, the Chinese will keep buying our iron ore, because without it there will be a revolution¡±.

jojo