Don't think it's related with China's lockdown. Acutually, China's Covid is under control now. China welcomed the new Australia Gov, but ALP returned with cold water, the patience of China is dwindling. The focus of Iron ore supply diversification looks coming back on agenda by setting up central iron ore buyer. And another perfect storm comes as well, Guinea gave 14-day deadline to finalise a joint venture to develop Simandou mine. RIO is to give up to let Chinese companies to take over the whole mine, or join the development to build the mine immediately. Neither option is good news for Australia Iron ore miner. For 3~5 years term investment, I suggest it's good time to sell anytime when it's close to $20, and leave the space. Don't expect divident to cover the lose after Simandou mine put to production.
For long term investment, the great opportunity is still Lithium sector.
Don't think it's related with China's lockdown. Acutually,...
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