Glasenberg’s madcap manoeuvre, page-9

....The strategy of cranking out iron ore at maximum levels not only threatens to destroy the capital of higher cost producers it simply transfers money into the pockets of the Chinese steel mills...

Hi Matt

This is exactly what I thought.  It will be interesting to see how this situation develops.  In the meantime, the Chinese steel mills will continue to enjoy the cheap high grade iron ore while they can and have plans in place to secure their future needs.

Cheers.

Pikapika