We present our Q3 2014 North China delivered iron ore cost comparison. Chinese assets feature at both ends of the unadjusted total cost and freight (CFR) cost curve at US$26.91/tonne and US$185.90/tonne respectively. Australian and Brazilian producers continue to dominate the lower half of the cost curves. For the first time in 2014 both countries share an identical straight shipped tonnes cost of US$46. With the addition of thirteen new assets the Q3 2014 cost curve consists of 305 data points.