I do not think CISA can complain considering that in many ways it is because of them that we are in this position. For example they want to push long term contracts only when prices are high and when prices are dropping they prefer to take the spot price.
If steel production is unprofitable then they can simply reduce production of steel which will increase the price of steel and also reduce the pressure on Iron ore.
This is what any other company does in the world. Seling Iron ore is not a charity. This is capitalism. I do not see China complaining about cheap oil prices instead they are filling up to take advantage.
Iron ore companies I think need to get ready to shift their comparisons to the singapore exchanges if there is government interference. Then it will simply be a case of buy it on our terms where we use an exchange void of government regulations limiting movements.
Also they wont like it if their exchanges lose popularity. All countries selling Iron ore into China will take issue with government legislation to dampen pricing dynamics.
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