It won't be 12.5% of $26 ($3.25). It might be 12.5% of $10 ($1.25) or even 12.5% of $5 (63 cents)..
I suggest you read The Global Times - the unofficial news service of the CCP - to see what is really happening.
"Chen said that the third and fourth quarters are unquestionably going to be tougher, as iron ore exports to China will be lower, which has not necessarily been reflected in the second-quarter statistics, but will be evident in the coming two quarters."
https://www.globaltimes.cn/page/202109/1233488.shtml?id=11
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It won't be 12.5% of $26 ($3.25). It might be 12.5% of $10...
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