fmg rail deal & brinsden blast over-reaction !, page-28

MANXMAN, well written and indeed that't why there will be no IO glut. IO is the only thing keeping RIO sp above $50. If IO is performing like coal, RIO sp would be in the teens.

The simple fact is the Big3 alone controls 70% of all seaborne supply. If the 3 pull back by JUST 2MT of output per month, that about 70MTA taken off the supply.

The only player of some significance is FMG and the 155MTA which is already neutralized taking into account annual global depletion (mine closure of about 50MTA taken off the market), India shipped 60MTA to China in 2011 is now out of Seaborne market with South Africa also slowing export.