Who says it's the top of the cycle ? What's the reasons for demand dropping the next 3 years ?
Market determines IO price, not China. China can try and influence prices and reduce steel production but world steel demand doesn't change due to their manipulation. It is still a demand for steel v's IO supply situation.
If China wish to see IO at US$50 then they'll wear the economic impact across their businesses, just like the rest of the world.
Who says it's the top of the cycle ? What's the reasons for...
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