Worth a read:
https://www.hellenicshippingnews.com/iron-ore-extends-gains-on-china-stimulus-hopes/
In June, 2024, China produced more steel for the month, than in any month in the last year, since April 2023, The daily steel production rate for June was 3.05 tonnes per day, which, back of envelope here, would require just short of 5 million tonnes of IO every day. As an example, that would burn up all of Yilgarn's annual output in less than 2 days. Chinese IO consumption is still huge!
Iron ore price, page-53005
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