what if there is no cockatoo deal, page-35

Yes it would be seriously hard work at the negotiating table! I think i am just a bit shty that Timeones delays/back flips have led PLV to this position and exposed PLV at the worst possible time when i my mind a deal should have been stitched up sometime ago. I am guessing some serious concessions are being made to get this across the line as i cant see PLV's bargaining power being too strong. Hey at least it’s a great time to not be trading on the market as I reckon we would be sub 10c.

Little sobering excert from the Age

China steel futures fell to an all-time low on Wednesday as poor demand in the world's top steel market kept the pressure on prices, sending iron ore further below $US90 a tonne to its weakest since October 2009.

Iron ore has dropped 36 per cent since early July, the main casualty among industrial commodities of China's slowdown, and analysts say the downturn still has momentum.

"There may be more downside, unfortunately, given the high iron ore inventory in China and no sign of recovery in steel demand. Iron ore demand is very, very weak," said Helen Lau, senior commodities analyst at UOB-Kay Hian in Hong Kong.

Iron ore stockpiles at major Chinese ports stood at above 98 million tonnes last week, not far off the record high of around 101 million tonnes set in February.

Meanwhile, for the quarter, Fortescue shares are down 36 per cent, while Atlas Iron are off 41 per cent.

(The worst two stocks for the period among the ASX 200 are Boart Longyear, down 61 per cent, and APN News, off 49 per cent.)