Fair points, mostly, seenow1.
The one thing I disagree with though is that China can increase supply on a whim. While their mines are capable of higher outputs, this comes at an environmental and workplace safety cost that the Chinese populace is no longer willing to accept.
In years gone by, the Party would just dictate output levels to be achieved, but there is a certain amount of "environmental assessment" that happens, and a certain amount of dissatisfaction with unsafe work practices in China.
The processes are different from what we're used to in Australia, but very real in China. Things are changing there too.
hammering, page-8
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