Iron ore price, page-48783

An IO price at US$70 isn't in the interests of IO producers including the Chinese producers, generally low IO prices go hand in hand with negative profit margins for steelmakers.

When it hit $US40 back in 2014/2015 all IO miners struggled including FMG, Twiggy accused BHP and RIO of all sorts of behaviors and got himself into trouble for suggesting a cartel.Arrium here went into administration, Bluescope just survived by selling half of its stake in a joint venture in Japan and threatening the unions it would stop steelmaking in Australia unless labor was cut and wages freezed which included management.

An world oversupply of steel and IO caused the mess, China were dumping below cost steel all around the world illegally until those countries affected including the US and Australia implemented significant tariffs.

BHP, Vale, RIO and FMG all learned from the debacle, can only hope China understand an oversupply in a market has consequences.

That aside currently the great Al Rurenga words of "FMG are Go" keep ringing loudly, for how long time will tell......