These steelmakers 1st goal is to get ore somewhere other than the big 3 iron producers to try to break the big 3's control of prices andthus these steelmakers are searching every corner of the planet for non big 3 sources.

The domestic Chinsese iron producing assoc recently-to their surprise-lost their bid to use governmental departments to block Vales  fleet of 350k ton ships from using Chinese ports. So now the burden is on Chinese steelmakers to bypass the big 3.

If Bao stays focused on this primary (for them) goal we should see a contract based on spot-Bao probably knows they have competition now-but Bob hasnt even whispered about Bao except in the posted pics til now-which told me the negotiations were real and serious-not serious bad but as in presumed NDA-which is typical business procedure despite bashers who have totally ignored or ridiculed the Bao situation. Recent musings by bingo indicate things were coming to a make it or break it and move on point in negotiations-the info was also sent to Rocket and another-I actually thought I was in the doghouse for pushing so hard for financials to ease broker restrictions.