." ..... sustained prices at 20 are the the best we can hope for without some sort of reaction"
Absolute bullshit.
Don't be offended when I say that this statement reflects a profound ignorance about the pricing of IO and a lack of understanding about how the global IO & steel markets work. Or the centrality of Steel in the global economy vs Nickel
Nickel is not Iron Ore. Nickel is very useful for the production of stainless steel, alloys and the like and a few other very important functions but its use in the modern world is extremely limited.
Iron ore is the most important industrial commodity because it is used for the production of Steel. Steel is the most used metal in the world by tonnage and purpose. It is used in automobiles, airplanes, beams used in the construction of buildings and thousands of other items.
FMG Price at posting:
$23.22 Sentiment: Buy Disclosure: Held
(20min delay)