Iron ore price, page-44572

FE on SMM & some other FMG pricing data

IO has likely been impacted by the news about Shanghai going deeper into lockdown.
Agree with others that this presents another buying opportunity.

This should all but cement the PBOC rate reductions, which will be like sweet heavenly sugar hit from above and likely be felt for a few years.

In other news I hear that Tangshan has all but reopened again. Certainly traffic and steel mill activity has risen significantly over the last few days. This will create a strong floor for steel makers.

The situation is more nebulous and less clear though in the short term until the new stimulus comes on line, The PBOC will meet on the 20th April to announce its position.

It doesn’t make much difference to me personally as I am long and will remain so for generations with the bulk of the assets designed to be transferred to my kids,

Saw an interesting story on Instagram about the “Energy Observer” a giant luxury catamaran that is run entirely carbon neutrally off the energy harnessed from solar power and stored in hydrogen. This thing was huge and sails around the world without any fossil fuel, it was very interesting and makes me think that mass scale hydrogen is going to work and will provide us with MASSIVE new revenue quicker than expected. Brilliant.