Not sure what you are on about. The Iron Ore price at the moment...

Not sure what you are on about. The Iron Ore price at the moment is at near record levels and so are steel prices and BSL profitability. Look back at when Iron Ore prices were $US50/t and see what the BSLs profit was. The high Iron Ore price at the moment is about the reduced supply out of Brazil due to COVID restrictions and therefore there is not enough Iron Ore to supply global needs.. As far as I have read China is reducing some steelmaking output in one region to combat local pollution levels as it has done a number of times over the last few years. This will be temporary move and in the past has lead to increased outputs in other regions with very little net effect. China still needs heaps of Iron Ore to fund it's urbanisation programmes and Global demand will be strong due to many Governments increasing infrastructure spending and therefore demand will not fall off significantly in the short term. IMO. The Iron Ore price will come down once the supply out of Brazil improves.