"BlackRock, which manages the Global Mining Investments Ltd portfolio out of Britain, has had a team in Australia this week"
They were in Sydney today, and I was able to hear them speak for about an hour, and answer questions. One aspect they drew attention to was that China's own iron ore mines, - which produce about 400m tons/year, - are very high cost, at around $130 per ton. Hence they are close to uneconomic and will be shut down if the price drop were to continue, thereby restricting supply.
The press reporting of the iron ore 'probems' lately has been very inaccurate and wide of the mark, and they now look like getting caught with their pants down.
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