And the reason that experts in the industry quote this average (ie Champion specifically made the reference in its report) is that the average IO price of USD110 in the last decade represents the period since the rise of China and since the Pilbara expansions.
Except it is totally misleading BS. The price was above $110 for a total of about 3.5 years. It was below $80 for a about 5 years. It was below $60 for ~2 years,
Iron ore price, page-39104
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