Look, I sympathise with you regarding the stock you hold. It can be tough, pre production. Regarding IO in general, there is a pretty good understanding here about China, with some posters on the ground there. Supply is another issue. Brazil is difficult to gauge, but look to be struggling.Rio also has it's issues, here in Australia.
What is clear is that demand is picking up in other areas, such as Japan and South Korea. The US will also play a role. So, all in all, it's pretty finely balanced and likely to stabilise around these levels for a bit, imv, till the end of the northern summer in any case. Seasonal demand in China should pick up then. The Chinese mill owners must be in clover for the moment, with lower costs and higher steel prices.
Iron ore price, page-35202
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