The Singapore Mercantile Exchange (SMX) will begin this Friday August 12, 2011 to publish an international Iron Ore futures based on the MBIO index. This is a good news, as we will be able to forecast near terms the price of Iron Ore. Forecasting up turn or down turn may help our buying and selling. No sense buying on a down turn background. The bulletin predict a weaken short term IO market, and a solid demand in the medium term. In the first 7 month of 2011, China imported 388,550,000 tons of IO. In July 54,550,000 tons. Comments please, I believe it is good.