Hmmmm...good pick up about the CFR cost of $67.50 and not $55 being the threshold of death. The Treasury should have quoted the CFR price rather than being so deceptive to the Australian public.
BTW, I expect the IO price to reach $55 before Christmas and settle around $60. I suspect those capsize bulk carriers originating from the Pilbara will soon bank up with dropped anchors. That will then trigger a massive stampede out of the ASX IO miners.
At $60 CFR for 62% fe, we are talking about $47.50 before freight. I think Access Economics and the big banks will run through the numbers again and declare the treasury's short term forecast to be total garbage.
Hang on tight. It's gonna be a gut wrenching ride.
Iron ore price, page-40669
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