Price and Chart HIO, page-5755

Australian government "predicted IO price for Fe62% to fall to USD $55/t in 2021 but what actually happend? Well, it went to USD $238/t and hung around USD $160-$180/t for months.

Now in 2022 the Aus government "predicted" IO price to go down to USD $70 but 2022 is close to the end and IO price is still hanging at around USD $95 with China covid lockdown for the last 3-4 months. When China decides to abandon its Zero Covid policy and its manufacturing industry is free to get back to normalisation plus all big packages of stimulus targeted at housing construction and in

frastructure start making inroads, IO prices are bound to move higher in 2023.

Who in the right mind would trust the "prediction" from the Aus gov?

Who is better to listen to? Australian gov or the heavyweights of the IO world (BHP, FMG, VALE SA, RIO, ANGLO AMERICAN,...) who have all recently stated their expectation of a better iron ore prices going forward. And they don't just stated their expectation they backed it up with huge investment $. Minerals Resources together with Baowu Steel, POSCO, AMCI is pouring $3bil to open a new low grade Fe58% project announced last month and Rio with its JV partner is pouring $2bil to open up another project while AcerloMittal is betting USD $5bil to build up new steel furnaces in India.