Anything can happen, but IO sliding any time soon? Not in my opinion, Vale’s little fire and flooding in the regions where their mines are will take another 4-6 weeks to flow onto supply side pressure, and there hasn’t been anyone announce they’re stepping up production.
Production my have slowed a little in China, but it isn’t going to fall off a cliff. Plus take note of every other country increasing steel consumption through stimulus spending.
Let people have a manic panic day, there is always a few along the way. But the fundamentals haven’t changed, targets have been achieved head of schedule, and first shipment is still looking like leaving on time. Good times ahead for those who can ride the waves along the journey
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