That is just not true mate, back in full production in 30 days? Where did you get your "false" information from?
According to MySteel, who done an article and released 6:52pm Sydney time yesterday, which says the BEST CASE scenario is 20MT less IO this year. They also surveyed 22 Steel mills in China / Japan / Korea who signed long term contracts with Vale, are buying elsewhere. It won't affect the IO market near term because there are still over 36% of Vale/CSN IOs at Chinese Ports.
Shipping cost are normally the best indicator about shipping volumes:
From Brazil Tubarao to Qingdao:
- 19/3/2019 US$11.782/wmt
- 19/2/2019 US$12.911/wmt
- 18/1/2019 US$17.886/wmt
You will see the "Vale" effect continue in months/years to come.
DYOR
Frank
Iron ore price, page-11104
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