Vale with all its mines plus issues with shipping would be very strategic in what they bring on and what they dont. They would have mines with cost blowouts that could they could bring on but it might be better/strategic to wait and keep making the same profits with less risk. (Some mines would be very risky to bring on for multiple reasons)
Pricing above $200 gives them more options and more cards to play.
It like international shipping, when there is more demand they take ships off service, pushes the price up and they make the same money for less costs
Iron ore price, page-31576
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