Iron ore price, page-35047

Hi All.
Of course iron ore has tumbled from its peak. The biggest customer is China and the Chinese government is a force to be reckoned with and they had staked their pride on reducing prices. So of course there has been a big fall.
However.....
Iron ore in USD is still at boom time highs. In AUD it is still even higher.
And.....the Chinese government has reduced IO prices by artificially lowering IO demand. This is a bandaid not addressing the underlying problem of lack of supply growth. In fact it has probably scared off major investment and hence made the underlying problem of lack of supply growth worse. In this way the Chinese government has probably increased the average IO price for the next 5 to 10 years.
Also....the iron ore majors have learned from the past. They are not wasting these boom time cashflows. There is an absence of buybacks at high share prices etc. They are just paying dividends.
There is a lot to be bullish about.