Hi, it comes back once again to margins. If FMG products can double steel margins over pellets/high grade ore, FMG will continue to be in demand.
It seems most of the 8m tonnes exported from Aus to India in 2018 was from FMG
Less than 1m tonnes were exported to India the year before so there would have a decent increase by FMG.
Then you have this unknown in the link below. Supply may be materially affected if these mining leases lapse next March.
https://www.hellenicshippingnews.com/india-centre-may-extend-approvals-for-lapsing-mining-leases/
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