[Alberta's Child]

From what I understand, a big factor in the run-up of steel prices over the last few years was a well-planned campaign by the Chinese government to buy lots of raw materials from all over the world . . . to build new steel manufacturing plants.

Once these plants started to come on line, the excess production capacity effectively drove the price back down again.

[Last Dakotan]

Could be. The Chinese have a knack for being the low price producer of most anything and now might see the time as ripe for a little competitor burn out.

Interestingly enough China has little, if any, iron ore and gets much of its needs from Canada. The ore goes out the St Lawrence seaway, around South America and across the Pacific. My contacts there tell me the Chinese have contracted for every taconite pellet from there for years to come.