I think $90-120/tonne is the floor price. Pricing has changed so the suppliers now pay shipping, which they never used to previously. $30/tonne from years ago will never be seen again, the lowest cost producers are at $40-50/tonne.
Domestic Chinese production is at $90-120/tonne, with grades around ~30%, so they are effectively $180+/tonne to get the same amount of steel as ~60% Pilbara iron.
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