There were rumours late last night amongst industry sources that the Chinese steel mills have accepted the 19 percent price increase.
This is contrary to the quotes in today's AFR.
Has anyone heard anything further?
Would be a bonus to the Sydney and Melbourne institution roadshow. Would have been a triple bonus if they could have announced a deal with Shougang, but looking unlikely for this month.
Surprised that the business commentators don't talk about diversified mining houses adding iron ore to their businesses. I would have thought that MGX would be attractive to a group like OXR, particularly given that pricing differs to the conventional pricing method.
Interesting 12 months ahead for MGX.
Cheers,
Rob
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