Markets reacted to the news of Tropical Cyclone Veronica on Friday, with supply concerns from the Pilbara in addition to"Prices went up $US2.70, [but it is] not clear if prices will go up again," Mr Kirchlechner said.
"If the shutdowns are for long enough, that would also have an effect on the iron ore price and possibly exacerbate shortages the steel industry would face." Mr Kirchlechner said the Chinese steel industry would feel the impact hardest as it relies on iron ore imports from Australia and Brazil for 90 per cent of its supply."If there are any supply disruptions from its major suppliers — and Australia is by far the largest supplier — it would cause great concern."
But what is all that water worth?
You now love mining because of the money hypocrits