The CCP just can not help themselves, after stuffing up the coal...

The CCP just can not help themselves, after stuffing up the coal market leading to record coal prices they are having another go at distorting the iron ore market. We live in a world economy, the price of goods are set by the market not administered by fiat. What could you expect from a bunch of socialist leaders who have never run a business. The end results will be the same as the coal market, prices will be depressed for a time, how long nobody knows, but in the end the correct market price will emerge! All the CCP government is doing is in the long term is destroy supply. No company will be eager to open new mines if the market is disrupted at the whim of the Chinese. Long term this is great for iron ore prices, no bank will loan money for Simandou or other large iron ore mines. The current miners are in the box seat as they are the only ones who can invest in upgrading and starting new mines. A lower FMG share price is sad but it has to be seen for what it is a buying opportunity.

Good Luck