Yep. It's probably why Wah Nam wants to sell to steel mills direct rather than through Sino. Sell the ore at cost and get the 'profit' from the steel mills end product. No tax income for Australia, but the Chinese government benefits. Flow on effect will be reduction of iron ore prices. I don't think the MRRT policy genii have factored in ore and coal prices being purposely depressed by foreign owned resource companies in order to avoid the MRRT.
BRM Price at posting:
$2.26 Sentiment: None Disclosure: Held
