The "supposed restrictions" is the big one I believe. This has caused the futures meltdown. According to my reading, a return to 2019 levels of steel production would lead to a 12% volume reduction from current levels. However there is nothing certain about those levels ever being achieved. There is a good chance they will be "walked back" if growth concerns exceed environmental concerns. This, of course, will never be announced. We are not currently dealing with any actual drop in iron ore sales.
Iron ore price, page-35009
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