Yeah, but only over 5 years ! I wish it was immediate.
https://www.nasdaq.com/articles/iron-ore-rally-loses-momentum-as-china-steel-curbs-weigh
While the first order thinking is that with Ukraine/Russian exports out of the market, there should be more demand for others to fill the gap it is interesting to see international iron ore exporters like Vale, Rio Tinto etc also reducing iron ore output.
Looks like India may be the only growth market now and for foreseeable future, but how much the growth and hence steel price stability will be is anybody’s guess.
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