M4M, page-65

Yes, I’m in the industry and remember when it was down around $40 per tonne. Everything kept going just the same and the big producers were still making money. I’ve heard on more than one occasion it costs about $15 per tonne ( large producers) to get it out of the ground, the current price at the moment is still very high in terms of what is required to make a profit. It is forecast to come down somewhat but not a great deal in the scheme of things.
we will always need steel and there will always be world economics playing a hand but with the rise of the middle class in third world countries and looking at the bigger picture Id say where on the right train.