Goldman has a well reported note out on Iron ore where prices have been tumbling.
Rio Tinto and BHP are aggressively expanding capacity while demand has cooled. The steep cost
curve for iron ore looks likely to at least see closures at the high cost end and will dramatically impact the big 3's margin.
Some, like Zerohedge, argue to beware Goldman's calls.
Commentary at Vienna Capitalist who sees problems coming for Australia with fallout from China's cooling.
A Detailed Credit Suisse analysis of the Iron Ore Cost curve from August 2013
The cost curve below dates from 2012
Credit Suisse 2013
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