chinese supply security

Could be a 2-3 way tussle.

The Indian withdrawal from the IO import market into China really spooked the Chinese about supply security.

Also IO price rose 26% in the last week from what was clearly the bottom.

The US encirclement of China and the SDL deal going pear shape (FIRB still has not cleared due to insider trading) must force Sino's hand into making a genuine offer (rather than a low ball hard to get game that would back fire).

With JHEP, Karara and WR, the Mid-West could supply 60MTA+ for decades to come. And this the moment they can actually own it ! provided they don't low ball and overplay their advantage.