As recent articles have shown the fall in price is

As recent articles have shown the fall in price is not due to lack of steel production but iron ore companies large and small increasing production faster than expected. Seems like the big companies all had big plans-almost as if they expected alone to supply the increased demand for ore-almost as if they ignored other big companies would be doing the same. Including Vale with its plans for a new fleet of 36? 350000 to 400000 ton vessels.

I read once that Australia imposed a 38% export tax on iron ore and probably some other things-that seems awful high even though India itself in 2011? increased export tax from 5% of a year earlier to 20% as per an article I saw- governments trying to balance the budget via new mining taxes. Of course India had another motive -fear of running out of their own ore in the future ,especially considering India's population will exceed Chinas in ca 10-15 years.

I didnt see the amount of Australias export tax in a quick search. Can anybody verify how much Australias export tax on iron ore is? A 38 % export tax would go a long way in explaining the cost/profit curve for Australian iron ore producers.