will probably we stretch well into the year is my bet- maybe even may'ish.
I'd say the Chinese will stall as long as possible, hope the us falls into a recession, and then use it to leverage a lower settlement. That said with supply being so tight the mills might cave in to guarantee supply.
Pretty unique situation developing this year so its a tricky one to predict i think.
RIO and BHP both announced supply contracts this week with terms to allow for a "mutual agreed prices" which could be the first step away from benchmark pricing. If these agreements mean mills will be open to paying above the benchmark in tight years perhaps we'll see a lower than expect rise....IMO I dont think its going to be the 50%+ increase people are expecting....30-40% is still a big rise
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