Iron ore price, page-32541

Hi all...

This ariticle may have been shared already, I would be interested to gain some thoughts here...

If what is portrayed in the article, Iron Ore prices are going to slump hard and fast in the near future..

Have read of this:

Aussie house prices 'at risk' from China shift on iron ore


Some snippets from the article:

China has signalled it wants to diversify its iron ore suppliers.
Chinese companies were last month urged by the National Development and Reform Commission to seek more overseas ore resources and broaden their sources of imports.

What will be the impact on Australia?
Global iron ore prices would slump as "unimaginable" amounts of Aussie iron ore flood markets outside China, Mr Llewellyn-Smith wrote.
The scale of the economic effect is likely to be similar to 2015, when Australian economic growth slowed with the end of the mining boom.
The bigger hit, however, will be to national income.
Australia will reap at least $150 billion this year in export revenue from iron ore, "nearly all" of which will "be wiped out by the combination of volume and price pressure".
"Nominal growth will be crunched; inflation and wages will be hit for years; the budget will be a sea of red; mining stocks will fall; bonds yields will plunge; AUD will crash," Mr Llewellyn-Smith wrote.

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I Will admit you read a lot of scare mongering today via journalists... however the more I keep thinking about this I must admit the bubble looks like its truly going to burst...

IS it just me or are we seeing some strong warning signs to a serious correction as alike the GFC in 2008?...