china gears up for splurge on projects, page-2

Thanks Rocket,
Lets hope this article is on the money about the stock to use ratio being at near decade lows of 1.4 months. The replenishment as it occurs should reflect in increased future prices. Sure the Chinese have IO stockpile overflowing at their ports, but that is because they have lifted steel production from 50MTp.a to 700MTp.a over the decade.
So long as the policy setting can keep the growth around 8% , then the floor established for the IO price should remain at~$120/T where it has been for past few years and the trading range should be $130 to $150/T, just as many of the bigger players such as FMG are saying.

FT