Iron Imports That is an interesting comment, however, to put it in perspective one should look at the monthly trend.
I think you will see that there was the residual contracts and inventory buildup, and that the import trend dereased in the last two quarters....It is the trend that is important here as the annual import is expected to drop by some 4% in 2012... However, as the price of iron drops the trend may well end, and in fact, if the price is low enough to make inventory surplus worthwhile, could reverse.
So one should also look at inventory stockpile stats..And , as important, export and domestic consumption of steel products..Again, with the idea in mind that some bargin shopping is being done. If there is an inventory surplus, or ore supply far exceeds production, there will be an even bigger price correction in the future.
But, as I have mentioned before, none of this is in the least applicable to an early stage exploration company like AXI.