I agree with some of the sentiment expressed here but isn't the salient fact that as of now this 97% increase is the best deal Baosteel could cut? Dr. H -- I believe it applies to other buyers because Baosteel is the biggest buyer of iron ore and if they didn't have the leverage to get a better price how can a smaller buyer demand to pay less successfully? The smaller buyers can try but why would Rio give them a better price than their best customer? I notice that a major Japanese steel company quickly also accepted the agreed upon price. That I believe is the relevant fact for investors today. In short the suppliers continue to control the market as of now -- it seems to me this agreement is definitely not evidence that the iron ore market has topped. Someday it will change  ....

"But not today" .......Hannibal Lechter.