Its Time, page-19

"Customers lined up at quantity"

It's a buyers' market in 2015, producers are the ones lining up to sell in a market that has hardly grown at all.
As for newcomers like VXL and FDR they have to sell very cheaply to break into the market. And the Chinese are a step ahead as usual with their massive investment in industrial parks to churn out mineral for high tech applications. Their COP is a fraction of VXLs, the only advantage of VXL is security of supply but at what cost? To think that these were to be the golden years when first mover advantage would give VXL the edge and big profits for the next few years, before SYR et al start mining at a COP of under $US 200 tonne.