The naive and unsophisticated shorters bought the China-is-dead BS from Chanos and didn't realize a spike in IO spot price is inevitable due to massive destocking which IMO may be more political than economically motivated.
I reckon China just fired a shot across the bow of Australia in a veiled threat to warn against our collusion with the US in encircling China). This shows how our budget and one-show-pony economy can be savaged if the Chinese (at a cost to them that they can bear) start massively subsidizing their domestic IO producers in a prolonged manner.
iron ore up again, page-3
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