Here's some facts: Bloom Lake iron ore destined for North Asia....

Here's some facts:

Bloom Lake iron ore destined for North Asia.

90% of China's steel production gets consumed in China.

Only 2% of US steel imports come from China.

Unlikely any of Bloom Lake iron ore will end up in US imported steel.

Trump's tariff plays to his electoral base & gives him leverage in NAFTA negotiations - doesn't hurt China.

Bloom Lake's 66.2 % product currently around  $US97 CFR China - off 3% from it's recent high due to Chinese domestic factors.

https://www.*.com.au/iron-ore-price-china-trade-steel-tariff-2018-3

The 58% Fe & 62% Fe down but higher grade 65% Fe actually up - proof if needed that Grade is King!

RIO now concerned about high-grade product from Brazil's Vale - Australia's mostly lower grade can't compete.

CIA shares off more than 15% since production started 13 days ago !!

Conclusion - CIA sell-off way overdone - now lower than even the Canadians (TSX).

No wonder directors are buying.

.