Brazil's supply is as likely to further constrict in the near term as it is to come back on-board.
Vale can't hit their production forecasts to save themselves, and they have ongoing environmental/compliance issues - along with the obvious COVID-19 challenges which are just terrible.
Additionally, demand is at least as high, if not higher, than last year - so it is both a supply and demand issue (and it will be interesting to see where and when that settles).
Iron ore price, page-30946
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Last
$19.55 |
Change
0.050(0.26%) |
Mkt cap ! $60.19B | |||
| Open | High | Low | Value | Volume |
| $19.98 | $20.30 | $19.51 | $184.3M | 9.305M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 2568 | $19.51 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $19.56 | 44282 | 3 |
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| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| FMG (ASX) Chart |