chinese steel exports to the US were a pathetic 0.8% of total in 2024 and they increased a whopping 23.7% last year Fmg exports to US are 0%
USA tariffs on china will have NO EFFECT on IOP nor on FMG sales of IO to china. they will simply stop steel exports there & flip it to asia or EU there will be no reduction of IO sales to china by Fmg thereby imho
on the contrary, as Oz has no tariffs effectively Oz will increase its trade surplus with china as china will instead buy more goods like meat cows grain gold wine bourbon scotch from Oz
as US tariffs hit Oz industry they will gladly sell more to china instead. Win win.
RIO BHP though who export a lot to US will be affected esp alumina by rio & bhp nickel to tesla for example
FMG is thereby tariff war immune imho.
FMG Price at posting:
$14.95 Sentiment: Buy Disclosure: Held
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