Ann: Voluntary Suspension, page-78

well call it what you want small (offering small supply) vs very large (offering heaps and getting bigger) vs demand which has actually been very robust (calendar year 2013 vs 2014). Displacement of all supplies at the margin which was $115 for the more expensive, $100 next and down the ladder in multiples of $10 which was meant to stop at about $70 but didn't as we all now know.

This article barely a month old and most projections all far too high. Chinese analyst seeing US$30 as possible lauded by RIO as "fantasy land" - but then he would (he's a seller after all).

http://www.smh.com.au/business/mark...boosting-iron-ore-supply-20150309-13yxmj.html

Taking a very long "look back" - 1985 (US$10) and 2008 (US$47 - about where we are now). Huge rise and fall in only 7 years in reality. Simply incredible the CAPEX that was piled into this industry + shipping vessel size rising to the behemoth (VALEMAX) which is another spanner in the works and now sanctioned by China (they are operating all Vale's vessels and constructing new ones).