Truly,where is the oversupply of Iron Ore., page-2

Yes, supply matches demand ... but there is an over-availability!

The situation is made worse by the Chinese supply strategy. A while back they stated that at least 50% of their requirement will be sourced domestically and at least 50% of imports will be from Chinese owned or controlled foreign mines. Given the recent tie-up with Vale falling into the 'controlled foreign mine' category, that at best leaves BHPB, Rio, FMG Atas with 25% or less of Chinese ore requirements to fight over. The Chinese are quite happy about that as this now very low cost ore offsets the high cost of their domestic ore. Clearly one of the benefits of a centrally controlled economy.