Iron ore price, page-39143

i seriously doubt IO will never be below $80 a tonne given the capital costs to start up, even $90 is unsustainable because it is simply not profitable enough for many to turn dirt - so they won't.

Absolute nonsense. Miners were selling IO at $80 in May 2020. Less than 18 months ago.

IO mining is mostly a sunk cost - exploration, building infrastructure and stripping. Once the mine is operational the production costs are often very low. So many miners can operate at rock bottom prices for years if necessary by cutting back on development. The big diversified miners eg BHP. Rio, Anglo etc can even subsidise operations and sell well below cost.