Sustained profit margins by Chinese steel makers are hard to resist imo. Demand for HRC & Rebar is growing & China is about to reach peak construction period. BOF use in China has started to grow again. HRC & Rebar stocks are falling.
Global demand is insatiable and the hurricane in the US knocked out many steel mills.
It's no wonder end users of steel in the US are pushing Biden to reduce steel import tariffs.
Iron ore price, page-36587
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