Short term that works, long term supply would catch up elsewhere in the world of producers realised the shut down would be permanent.
prices equalises out as new supply comes online.
Bhp and Rio will be hesitating to replace that Brazilian tonnage because that is a multi year task and billions on CAPEX. Brazil could easily resolve the issues, have the government overturn and start production again much cheaper.
Personally I expect these elevated prices to last 6-12 months.
Short term that works, long term supply would catch up elsewhere...
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