rio problem; lu kewen big problem , page-15

  1. loki01
    11,118 Posts.
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    13/07/09
    17:12
    Post #: 5384595
    bonzaboy

    In relation to China, we are almost operating as if there was a spot market when iron ore prices turn down, but not when they go up. That is because Chinese govt firms just walk away from contracts when it suits them (ie when the spot market price fall below the levels in the annual contract).

    loki
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    lightbulb Created with Sketch.  Great analysis
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