I wonder if our government can put production restrictions on iron ore miners BHP, RIO, FMG, Roy Hill and SinoSteel. Say 10% reduction. Honestly having worked in these companies, I know they are too stupid to do it themselves.
Their reaction to price drops is to increase production. Gain Market share. Dumb as dog pooh.
A 10% decrease in volume would bring 30 plus% price increase. Remember this is a contrived market.
Ann: Riley Mine - Update Following Completion of First Shipment, page-289
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