A number of comments here talk about production volumes and the...

A number of comments here talk about production volumes and the various percentages provided by company/country. One major issue that seems to be overlooked is that not only are we giving away too much IO but we are giving away the best quality of ore. Many of the steel mills get concerned when their iron ore contains too many impurities. BHP/RIO are sitting on some of the most pure IO around and yet they are pushing like hell to give it away. Surely in a market where purity counts for better performing steel furnaces then a premium should exist. At the moment it doesn't. If China wants to provide more IO for its mills then let it - but buyer beware in terms of the quality of metal that comes out. Most consumers can see for themselves the lack of quality in many metal products from China as they fiddle the mix of input. For years BHP/RIO have been selling a blended mix of IO, perhaps they need to rethink the quality of mix and hold back on the purity and demand a premium for that. The volumes are high but price low - surely it is just not a buyers market when there are differences in quality around the world. Trading of IO must be a two sided discussion not just one.