todays afr , page-81

looks like I was right...again...

Reminder of what I posted the other day:

'Matt - I think you are partly right about saving face.

Hanlong launched the TO in mid 2011 when iron ore spot prices were $180...spot prices are now 120's, 130's.

Analysts view now is that will never see that 180's level again.

So how embarassing would it be for the Chinese government to be buying SDL at the very top of the commodities price cycle?

If they want to save face they will be wanting to renegotiate.'