You need to look at the bigger picture and appreciate what is going on in the IO market as a whole.
The Chinese steel mills are in pending negotiations with Australian suppliers and face a BHP/RIO merger possibility.
In positioning itself China will be looking at ways of blocking IO price increases in the future. What better way to do this than shore up other Australian IO producers and juniors?
http://www.nytimes.com/reuters/business/business-australia-china-resources.html?_r=1&dlbk&oref=slogin
http://www.businesschina.com.cn/blog/?p=47
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