Interesante nota sobre el IO:
This brings the market back to the question as to what is the price of the marginal tonne of iron ore supplied to China, and how far below that does the price have to fall to knock enough supply out to balance the market.
The majority of estimates seem to be grouped around the $60 a tonne level, this being the point at which 90 percent of seaborne iron ore suppliers are still profitable.
To be sure, China's imports are still dominated by the three major exporters, but the point is that the higher iron ore price brought alternative suppliers back to the market, and fairly rapidly.
Overall, it would appear that iron ore will have to spend some time below $60 a tonne in order to knock out alternative seaborne supplies, as well as ensure that high-cost Chinese domestic miners don't resume operations.
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