Resource analysts have said that they are not surprised that Chinese steel makers have asked for slowdowns in iron ore deliveries. Several manufacturers had asked Mount Gibson Iron, to delay shipments in 2009, as the industry slows down in the face of the global financial uncertainty.

 

Mr Mark Nuitta a resource analyst said that while Mount Gibson is under no obligation to comply with the requests, the fact they've been made should serve as a warning the resources sector.

 

He added that "I do not think it's the end of the world tomorrow, but I do think we will find things will slow down .The massive profits that companies have been pulling in will probably drop off We've also seen a big decrease in the AUD against other currencies, which is good for exporters but obviously if they are exporting less at lower prices, it all evens out in the long run."

 

 

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