I agree with ozblue, except I'd say the situation is even worse...

I agree with ozblue, except I'd say the situation is even worse
for a number of other reasons not least the Chinese housing bubble
and their growing debt issues!
IMO after the New Year a lot of Chinese mines which were closed
for winter will come back on line and we will get another tumble in the
Iron Ore price.
I suspect it will have a dramatic effect on the Iron Ore price over the next few months.

However like all the other times the Chinese have injected large scale stimulus into finance, building and infrastructure we will see the results later in the year following a six months lag time.

My guess is one more big bounce for companies like AGO later in the year followed by Armageddon 2016!