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11/12/14
19:16
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Originally posted by Matt747
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I think the Chinese have recognized the BHP-Rio IO dump folly (regardless of the motive - to kill Chinese domestic production or to kill 32 global projects such as WPIOP-AQA for instanec) was a one-off and will never happen again.
The WA and federal government has just suffere another revenue blow on top of a coal industry entirely under water. All those LNG projects in WA just about to finish will generate a whole lot less money (as LNG is tied to oil price).
It's the survival of the government and the viability of the Oz economic that is at stake.
IO supply pullback will happen soon no matter how loud the NDRC screams and cries and throwing a fit of tantrum.
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Matty
it is as stated in the winged ones article you can see why the BHP and RIO's of the world want to snuff out the competition and have supply to China to themselves.