The Chinese might be the biggest steel user at around 50% and producer at 57% (not 80%), but large as they are they only make up 18% of the worlds population , the other 82% are needing more steel.
Incorrect. Global steel production has effectively peaked. The Minerals Council predicts just 0.7% pa growth in seaborne IO trade up to 2030. However IO production will be increasing very rapidly (>3.5% pa until at least 2025).
Iron ore price, page-39241
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