@Nolan78 This is acually the reverse of what you would expect. It's the Chinese mills that get nervous. They buy up iron ore when they see tensions rise between China and Oz. Doing that forces the IO price higher.
But the CCP is never going to shoot itself in the foot. We know that.
Then the CCP has to calm down the steel mill owners with some sabre rattling from CISA, or some sanctions on none-essentials, like wine- that's how it works @Nolan78
Don't be fooled- it's just a cycle- repeats itself every now and again.
Iron ore price, page-27912
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