1 big question mark which could work in our favor is China's domestic ore supply and iron ore %-since they produce roughly 1/2 their own ore.
agmetalminer said 12-13-10 that the %  of iron in china's ore was only 20%

last article we posted on the subject china's ore was down to 15% w tv doc saying some mines as low as 4%

so if China is running out of ore that would greatly help to support ore prices -but this subject has been largely neglected
also chinas low ore % increases china's internal ore costs which supports a floor on prices-same 12-13-10 article ,and other articles