I'll challenge that! $90 is reasonable considering Chinese & world growth.....
Firstly you need to decide who's cost curve you follow
If costs are $85/t, miners will want profit.... otherwise no investment, say $10 profit/t, puts us up to $95/t.
i think we could easily increase the long term point to $100/t, maybe $120 if we're lucky.
There is not much talk of large CHEAP mines coming online.
Iron ore price, page-33995
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