Ann: Fortescue announces US$1.0bn repayment of 2019 Term Loan, page-30

how much China cuts domestic iron ore production?

That is really depends on the IO price. Chinese IO are mostly low grade turns into concentrates of 64-66%, cost are high and if IO price high, more will come back into production. You can never shutdown all Chinese IO mines, some in land Steel mills just logistically or economically impossible to use seaborne IO.

That "magic" IO price I think is just below US$80. I notice when IO price is above US$80 there were Chinese mines started to talk about restarting.

FMG is making an incredible "margin" ATM, like they say, make hay while the sun shines. Nearly US$20M a day in Cash Flow at current IO price. I guess once the Debt is paid off, IO price will have a lessor impact on SP??

BTW, nice posts Happigal, very informative.

DYOR.

Frank.