It's misleading to post statements based on A$ 57 cash costs....

It's misleading to post statements based on A$ 57 cash costs. Arrium current cash costs are A$ 71. They are targetting to get it down to A$ 57 in 2016 along with a $200 million Capex reduction. This is not a given nor do the numbers work that mothballing Southern Iron would drop the cash costs alone. They need to somehow sweat the existing operations, which is frankly something they have talked about for many years and is no way a given.

Consumables is a great business but I do fear that point won't be missed by Chinese steel producers looking for new markets for their glut of steel.