Who says it's the top of the cycle ? What's the reasons for demand dropping the next 3 years ?
Market determines IO price, not China. China can try and influence prices and reduce steel production but world steel demand doesn't change due to their manipulation. It is still a demand for steel v's IO supply situation.
If China wish to see IO at US$50 then they'll wear the economic impact across their businesses, just like the rest of the world.
Iron ore price, page-35274
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Last
$19.49 |
Change
0.320(1.67%) |
Mkt cap ! $59.34B | |||
| Open | High | Low | Value | Volume |
| $19.06 | $19.51 | $18.92 | $114.2M | 5.891M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1000 | $19.48 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $19.50 | 5200 | 4 |
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| Last trade - 16.10pm 01/11/2024 (20 minute delay) ? |
| FMG (ASX) Chart |