Hi RCman, the Big 2 are supporting the price I think.
Notice Joe Hockey who was so concerned that IOP hitting the $50s that he sought a meeting with RIO executive to express his concern. Today, he clamly (with a smile on his face ?) suggested that IOP can even hit $35 before it hits the floor. Dead give away (IMO) that he got what he wanted.
He is playing rhetoric games with the Chinese (distancing the Australian government from any perception of interference of market forces) by somehow now "expecting" a lower IOP and any actions on the part of the Big2 are to prop up the price is purely commerical moves.
Iron Ore Price, page-1880
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