There is generally little info about pricing except the spot price which looks a bit sick
at present. There has been rumours that some of the small producers have had to supply product
on a trailing 2 month price basis. This is a risky situation considering the current downward price trend and it
simply would make sense for the Government to institute a futures market rather than letting
these smaller miners to die on the vine and then be picked up by the Chinese for a song.
We are the world's biggest supplier of seaborne
iron ore and the Treasurer keeps whinging about the negative effect of iron ore pricing
on the tax take and our balance of trade.
If it is that important then do something about it Mr Hockey.
Your Chinese equivalent certainly has but to our determent.
