There had been some concern that Chinas GDP growth

There had been some concern that Chinas GDP growth was padded but recent 7.6% GDP growth report seemed genuine and reassuring to analysts-who seemed to think it reflected a new Chinese policy of more true reporting.

Remember that when growth was ca 10% for 3 years that that provides a much larger base for the current Chinese 7.6% growth. Remember the rule of 72-if you invest money for 6 years at 12%,due to compounding your money has doubled after 6 years.

If Chinas growth has averaged 8% over the last 9 years,their economy has doubled in the last 9 years.  So, and I'm not talking to you iggy but people obsess too much on what present rate of growth is while ignoring the rate of growth for the last many years and thus ignoring the much larger base-

both are important,so as long as Chinas economy was not contracting-need for iron ore would still be much greater than it was just a few years ago-this is incredibly basic so I dont know why it isnt emphasized far more.

I've reported many times from agmetalminer 12-13-10 that China's internal cost for ore was then 150/ton for what was then an average of 30% ore.

Since then I've seen a documentary on Chinas iron ore stating Chinas average had fallen to 20% ore and they were mining ore as low as 4% in underground mines.
So Chinas cost should be higher than 150/ton now-and agmetalminer said China internal cost would be the floor for ore prices due to Chinas internal cost-which is totally logical-a rare thing in this now crazy world.

So the reasons why ore would be less than Chinas internal cost would be either ore producers short term greed

or manipulation-like new iron derivatives markets and new attempts by China to regain its past bizarre buyers monopoly.