IO price on increase, page-19

A blip, a mistake, someone got carried away, who knows.

The current price could be the new 'norm' for io to 2020. Based on the below article, as i have posted before, Bci will need to spend most of it's NJV 'Care & Maintenance' time on driving their average costs per tonne down, otherwise i would think we shall not see the NJV restarted.

FYI. See below from today's SMH -

Commodities
Iron ore untraded at $US45.73 per tonne (CNY)
Iron ore capacity cuts driven by slumping prices have yet to swing the global market to a deficit as the world's biggest producers keep on adding supply, according to Morgan Stanley, which projects that a glut will endure to at least 2020. Ore with 62 per cent content delivered to Qingdao was at $US45.73 a dry ton on Wednesday, according to Metal Bulletin. The global seaborne glut is estimated at 45.8 million tons this year, 34.1 million tons in 2017 and 68.2 million tons in 2018, the bank said in the report. Morgan Stanley forecasts that prices will average $US46 a ton this year, $US45 a ton next year and $US48 a ton in 2018.

GLTAH.