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An interesting struggle going on. I wonder if we will see 16.5c today?

This has got to be under the eyes of many, especially when we continue to read articles like this;


Miners dictating iron ore prices: CISA

* Chuin-Wei Yap
* From: Dow Jones Newswires
* April 15, 2010 12:49

GLOBAL miners are no longer conducting real negotiations for iron ore prices, but dictating outcomes to customers, China Iron and Steel Association chairman Luo Bingsheng said.

"Now there are no negotiations any more," Mr Luo said at an industry conference.

"Now it's 'I say the price, you must accept, or else we will stop supplying you.'"

Mr Luo described iron ore miners Brazil's Vale, BHP Billiton and Rio Tinto as sharing "a high degree of monopoly" in the supply of seaborne iron ore, though he stopped short of indicating what measures, if any, he thought the government should pursue against the miners.

China's crude steel output this year is expected to reach 600 million tonnes, Mr Luo added.

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While steel prices have risen sharply, especially in late March and early April, he said, the domestic steel industry still faces serious challenges, including global protectionism, sharply higher inventory levels and slow consolidation in the industry.

http://www.theaustralian.com.au/business/mining-energy/miners-dictating-iron-ore-prices-cisa/story-e6frg9dx-1225854069848