The Indian ore is of very variable quality. Hence, not easy to...

The Indian ore is of very variable quality. Hence, not easy to make comparison with Aussie/Brazil product. India are not huge IO exporters.
The single biggest influences on current IO negotiations are:
1) Will the Aussie negoiators be too intransigent re wanting a massive increase and make things very difficult?
2) Is the China boom slowing?

I reckon possible yes to first and def YES to 2nd.
IO price will rise but can't see the full 85% (65+20) being granted. China cannot pass on these massive input costs as USA and Europe enter a very likely recession.