I have posted my logic before but based on current discount, shipping and some level of opex inflation I believe we need US160 62FE price to restart. … and a view that these price are sustainable not a brief spike.
Prices into the 140s now so heading in the right direction, I also think this is how the market is treating us - as an IO play. Price movements in tin do nothing for the SP but price movements in IO do seem to move the SP.
Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-100
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