Yeah it's an interesting one. Lump Premiums around March last year hit low digit dmtu which kind of contradicts the need for mills to be more productive and reduce sintering.
For us, it's ok to stay at low levels for the next month as it continues to amplify hedging gains but we would need to see begin improving soon.
If not, ago would probably adjust its product mix accordingly and increase fines production.
AGO Price at posting:
3.7¢ Sentiment: Buy Disclosure: Held