No doubt, the IO mining industry is ripe for rationalization. If the current IO price remain stagnate, then consolidation (merging) will be the next phase. The current free market dynamic will be gone..
The results would see a fewer major pillar suppliers controlling the supply market, and buyers will lose control of the spot price dynamic in the long run. We may have to go back to the old days of annual supply set pricing negotiation between suppliers and buyers. The Chinese steel producers certainly won't like to see that happen.
It may be doom and loom for IO at the moment, but will recover to a reasonable level in the medium terms to keep enough suppliers on the market..
