bhp tips iron ore slide, page-7

"China Weakens Yuan
China's central bank weakened the daily reference rate for its currency against the U.S. dollar by the largest percentage in more than a year and half as it continues to fight capital inflows. "
Source : WSJ

China is likely pushing down the price of supplies such as iron ore to compensate
for the lowering of the Yuan while benefiting from its exports .

The Chinese Authorities have just come out of their annual meeting and reaffirmed their 7.5% GDP growth target. Since the GFC they have been
erring on the safe side so there is no reason why they should wrong now.
China's command economy can be more quickly pump primed than the
so called western market economies.

Cheers
Moorookamick