By ramping up Fmg is feeding into a supply glut it want to avoid, cash cost will go up and margins otherway around. Not sure if the increase in production will see much increase in profit.
The more immediate danger is the large overhang of iron stockpile in china, with steel production down and increasing supplies there will probably be a sharp drop in price. I will think about 2013 after 2012 has passed.
By ramping up Fmg is feeding into a supply glut it want to...
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