Politics may be able to drive the price of iron ore down...

Politics may be able to drive the price of iron ore down temporarily but over the longer time frame steel is still needed and economies still need to stimulate. Steel production can also shift to places with less political influence where business is wanted and encouraged. If you constrain the supply of steel now, with the same demand, won’t that just cause even greater spikes iron ore down the track when supply of steel eventually dies catch up to demand? So, your undersupply of fe demand today should be offset by an overshoot of demand tomorrow?

I wound be interested to hear an economists take on this. If I recall correctly from my uni days, politics can distort the timing of supply demand forces but not the supply demand forces themselves. In the sane way, excessive money printing will lead to a loss of purchasing power and a lower exchange rate but have no real effect on real gdp or employment.

not providing financial advice. Just thinking out loud. Do your own research, etc etc…