Iron ore price, page-32290

Well then steel prices will drop along with it making Chinese IO mines unprofitable(more iron ore they dig out the more money they lose), ditto with the Chinese EAF's the more steel they produce the more money they'll lose. Sad when the last 6 months or so they were starting to make some good profits from their EAF's, all this during a global steel demand boom.

Thought they were smarter than that, the Chinese. The other strange thing is all that IO they have stockpiled at high costs will now be used to make steel which they'll sell at much lower prices resulting in a significant drop in steel margins.

Can't imagine too many countries too keen on importing any under cost Chinese steel, Trump and other leaders fixed that with tariffs a few years back.

IO at $80 = highly unprofitable Chinese steel business and unviable Chinese Iron Ore production