Iron ore price, page-34571

what happened 3-4 months ago when iron ore price was at peak in Chinese futures market so much money was pour in. that was insane. steel price was skyrocketed people are stockpiling even within few hours the price was rising again. that affect all sector of Chinese industry. in one hand the factory doesn't want to produce steel because iron ore price is too high and in another hand they don't want to sale because they're hoping for a better price for the next few hours. government has to step in to do something that's why iron ore price was going down steadily. the world is not short of Chinese steel there are enough in stock therefore Chinese doesn't need more iron ore from Australia at the moment. last year China consumed 80% of the iron ore from Australia. without the biggest customer fmg will go backwards for sure. someone here was saying fmg can sell the product to the other customers rather than Chinese but where is the other customer to have the same capacity as Chinese. we can all go back and have look share price of fmg before Chinese investment. I'm not saying it will go back to few dollars but if Chinese policy maker persistent fmg will be in big trouble