goofy : " Iron ore exports from Australia's Port Hedland climbed to an all-time high....
......hurting the outlook for prices as steel production slows in China."
Where is the iron ore being exported to ?????
Could it be that China is stock piling the iron ore while price is down?
Same applies for other commodities that china uses.
China prefers to keep its own ores for future own use .
And if this is the case, can you see that in future China would not be prepared to pay high prices of its imported ore . China dictates what they want to pay for anything.
"steel production in China" takes second priority when China can get cheap ore from overseas ,especially with current low cost for oil /shipping.
China is more interested in manufacturing .
Iron Ore Price, page-377
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