Grubarura, exactly like I can personally relate to not topping up some more @ 0.003 and 0.004, it would not be unrealistic that the Chinese would take advantage of depressed prices all round to be getting their claws in.
What the dopes who comment on day-to-day spot prices can't see is, China's long term pollution problem isn't magically going away, and they have already started shutting down the dirty mills.
I would expect their interest in magnetite concentrate to only get bigger, as time goes on.
(I happen to be in Qingdao and Longkou for work next week.)
We all saw in the media last week, that 2015 IO prices will be up from their current lows;
http://www.reuters.com/article/2014/09/24/australia-mining-bree-idUSL3N0RO5SD20140924
It's not rocket science this is cyclical.
Ohhh... and the West Australia Gov't is still committed to Oakajee.
I wonder if anyone has told the naysayers that?
