Based on MGX announcement.... I agree. Everyone saying demand for iron won't change. What a load of rubbish. You can't have falling demand in the USA and Europe for whitegoods, home enternainment, house construction etc and still have the same iron ore requirements from the likes of BHP. The only glimmer of hope that I can see is the Aussie dollar saying under 80 cents.
If demand falls which in turn will force prices to drop as there will be an over supply then the low aussie dollar will act as a buffer to some degree.
china assures demand for resources, page-4
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