Chinas steel industry is booming. Although raw materials is up, This is helping them have a leg up against the increase..
https://www.spglobal.com/platts/en/market-insights/latest-news/metals/042821-china-removes-vat-rebate-on-steel-exports-cuts-tax-on-raw-material-imports-to-zero
can’t see this slowing for a while yet.
Iron ore price, page-31920
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