Good post.
Have to add some bears, sorry
-China uses 9% scrap metal, rest IO. Developed countries use 65% scrap metal, 35% IO. China is expected to use ~30-40% scrap in a decade. A similar story for India. This is just basic logics/economics.
-India will supply itself. Indian IO industry was hurt by poor regulations. The government is improving this (they say so at least). India has huge low grade reserves and a decent amount of high grade IO. Indian IO output is expected to grow and to result in a exporting country quite soon.
-Additional 20% supply on the seaborn IO market is incoming in a year.
Don't be a bull or a bear, be realistic.
India is coming, page-3
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