Ann: Settlement of $64.3m Business Interruption Insurance claim, page-49

I would defer to your much greater knowledge of the margins Autosime.
BHP flooded it right - they must have known the potential I suppose?
Nonetheless the direct consequence of a super cycle is a super down cycle such as that which shut in KI - these things take decades. How much has production capacity expanded during the cycle - it's a huge amount is it not?
The Chinese economy will do well over the long term but construction (a big consumer of IO) is probably going to hit the wall eventually.
Don't get me wrong the price is so low there's very little risk but it's not like the great depression when American business was worth more dead than alive. With trucking and rail both net nets on the assumption that there was no future in either.
Here we are picking through the wreckage of a sector which has pissed tens of billions of shareholder funds against the wall. "supercycle" my ass.