at this rate all the biggies except perhaps one will be losing money as their costs-ranged from ca 65-75

over 50% of chinese mines w their average 15% ore probably losing money-
will china subsidize them-dont see why china would longterm- only has 8% of worlds reserves- so would be smarter to buy cheaper imported ore than subsidize

so at some point the big producers insanity should become apparent even to them and longterm demand/supply balance again