But the real pain ofsoaringcosts for iron ore, cokingcoalandscrapwillhit inthe thirdquarter, when analystssee a possible slow down inrestocking and end-userdemandyet to pick up.
As for the Mining Boom III, the pick up in export volumes flowing from the surge in mining investment in iron ore, coal and liquid natural gas will start to get underway around 2014-15.
Any meaningful pick-up in demand should be supportive since supply remains constrained due to factors such as labor disruptions, declining ore grades and limited new major discoveries.