"This is not about the merger. It is and always has been a play on the IO price and the $A, both of which are making life hard for Aussie iron ore miners. Have a look at the Dalian IO futures on the link below.
http://www.dce.com.cn/portal/cate?cid=1114494099100
If this is an indication of where the IO price is headed then I have no idea why anyone would be either holding or buying iron ore stocks. BHP & RIO have been very clever the way they have hidden the iron price effects in their recent announcements."
boned1 on the above link if the numbers are to be believed then the conversion on the September contract of 560 CNY tonne converts to USD equivalent of $91 ?
Confidence Badly Shaken, page-24
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