From MMI March 2nd 2022: "Ukraine is an important exporter of iron ore pellets in the world. Its export volume in 2021 was second only to Brazil and Sweden. China imported 3.876 million mt of pellets from Ukraine, accounting for 17% of China’s total pellet imports. Unstable factors between Ukraine and Russia may exacerbate the uncertainty of pellet exports and amplify the structural contradiction in iron ore supply. As a result, the pellet premium may face upward risks and form a certain support for iron ore prices. As far as China is concerned, due to the expected recovery of steel demand brought about by pro-growth policies and the expected production resumption by steel mills after the Winter Olympics, high-quality iron ore will be favoured."
Note that the Winter Paralympics are still proceeding therefore some steel mills are closed to curb pollution in China. Once these open I expect it will be full steam ahead! Good luck!
From MMI March 2nd 2022: "Ukraine is an important exporter of...
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