A very good interview particularly in relation to Nev Powers comments re the current situation in China re pollution control and the impact this has on the current discount FMG is receiving on its lower grade iron ore. Nev's explanation sounds completely logical that China are currently focused on optimising output through usage of higher grade IO (Rio & BHP) and therefore paying a premium for this product (which is a better way of putting it, than FMG receiving a higher discount for their product), whilst these restrictions are in place until March. However, when these restrictions end (or expected to end) in March, the Chinese IO producers will again be focused on cost of production (as opposed to output), and that's where the premium paid for higher quality IO, will start to reduce back to more normal levels.
A very good interview particularly in relation to Nev Powers...
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