We all know the last time when China pumped massive stimulus money into its economy in 2020, Fe62% price went up to AUD $200-$220/ton.
This time $5.3 trillion package, coupled with iron ore supplies out of Ukraine and partially Russia are cut off, plus India raising export tax on its iron ore from 35% to 50% giving indication that it is anticipating undersupplies for its domestic market, plus under investment from the major iron producers over the last few years, I think we could see USD $180/ton - $200/ton for Fe62% towards the year end at the BFS release time. Iron price over night looks like it is heading back up to USD $150/ton and so USD $180/ton is not far off.
HIO could not be in a better position in this green steel movement. Right place at the right time.
We all know the last time when China pumped massive stimulus...
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