Let me understand... The chinese want to break the current...

Let me understand... The chinese want to break the current contracts, and resign them at a 82% discount.

I am guessing they need the ore, and don't have enough stockpile to last until April when contracts are renegotiated. But if they keep buying until then the price of ore will pick up again and they will have to pay a lot more than current spot price.

Makes me think the Chinese are bullish about ore prices between now and April, which makes me bullish about our currency, and our resource sector