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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Maurice Winn who wrote (72104)	1/21/2010 9:27:43 PM
From: Snowshoe	Read Replies (2) \| Respond to of 74559

>>Oz doesn't really have China over a barrel at all. They can only sell their iron for what the market will bear.<< LOL, stuff is always sold for "what the market will bear." The Chinese want vast amounts of iron ore, and their local supply is very expensive. So the Aussies and Brazzies have 'em over a barrel... China says new iron ore finds will ease price talks ph.news.yahoo.com >>But analysts took a more realistic view of the impact on the course of benchmark price negotiations in 2010. "The new discoveries don't even come into the equation at all in terms of giving them a stronger position from which to negotiate," said Paul Bartholomew, Australia manager with Steel Business Briefing. Much of China's ore is too deep and very expensive to mine, and many of the new discoveries are unlikely to have any immediate impact on the country's total supplies.<<