VALE and CSN hate each other; enemies to say the least. VALE...

VALE and CSN hate each other; enemies to say the least. VALE always trying to screw over CSNin Brasil. In fact VALE always trying to screw over RIV in Tete.

The shiping costs to Brasil are a lot lower than from Australia, where the Brasil steelmakers get a lot of their met coal.

CSN originally bought into RIV as an investment, until the Zambize project was announced. Now they want off-take agreements. A lot going on behind the scenes, I think. TATA sitting pat; CSN upping the anti; RIO extending their bid.

I really believe that RIO have to nudge their bid offer up a $1 to start and see some traction, although I can't see this happening until they woe over CSN or TATA.

All idle speculation.

Cheers, Skip