So we're almost near the Feb2012 peaks in iron ore prices when accounting for AUD exchange rates... bloody AGO, underperforming by a wide mark.
"The recent rally could also spur both domestic and overseas iron miners to ramp up output, limiting room for further price rises, a trader in Shanghai said."
IO miners are already producing at their capacity. It's just not enough. Glut, what glut?
63.5% fe io prices up $1 and $3-4 for the week, page-2
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