Thanks for posting this.
I see this as an attempt by China to gain greater control of the global iron ore and steel market.
I would suggest that this is also an attempt to regulate the market and thus bring far more stability to prices.
Where the actual price ends up for IO remains to be seen.
It also remains to be seen what market share FMG accordingly Australia retains.
At the moment Australia is a major exporter of IO to China. It is a possibility that China wants to break this monopoly.
As always, the devil lies in the details.
Cheers.
CISA Iron Ore Supply Announcement, page-2
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