Iron ore price, page-51636

Some slight manipulation going on here from the central committee of the CCP. They have just implemented some temporary "emergency" climate control measures in Tangshen (major steel producing area) which means some blast furnaces must be temporarily shut down. That at the beginning of the busy spring season for construction in general. This can only lead to existing steel inventories being depleted, and demand for IO ramping up in the near future.

And remeber Vale! The battle cry for the shorters used to be that Vale would reach its target of 400 MT per year. That was going to kill the Pilbera and destroy the IO price. Never happened. Now their target is 310- 320MT for 24. That's short 80MT. Well there is always Simandau, I guess.

No, when the CCP want the IO price down a bit, they simply underplay the real situation, and force the mills to artificially shut down some furnaces. Remember, they have a target of 5% GDP growth. That is, the economy is going to be 5% larger than it was last year, not smaller! And that requires IO. So where will it come from? Ukraine?