Hi Billcan, correction...
At $US 70/T, I think FMG sp should already be $3 +
It doesn't take a lot to get to $60 / T + when the Chinese re-stock.
I think Hockey was telegraphing to the Chinese (via his comments about collective maturity and common sense - out with the harebrained scheme to knock out heavily subsidized Chineses domestic IO producers)
You know that Rio SilverGrass mine that Walsh has decided NOT yet to approve (I reckon indefinitely now) will itself NEUTRALIZE all the tonnage from Roy Hill even at maximum capacity of 55MTA (come 2017).
Iron Ore Price, page-2336
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