breakout, page-18

Conflicting stories:

This week Premier Li Speaking to governors from western China, Li, an economist and leader of China's Cabinet, said the government will continue with reforms and create fresh growth engines.

This lead to strong IO prices this week.


Then midday today:
Chinese Finance Minister Lou Jiwei signaled the world’s second-biggest economy may expand less than the government’s target this year and that growth as low as 6.5 percent may be tolerable in the future.

I guess this was the reason the miners pulled back on strong early gains this morning.

Now ? is was this comment in retaliation to RIO's comments on delaying its $5.4billion dollar IO expansion (iron ore shortage) or was the RIO comment made after the 6.5% figure was released ? interesting.