Iron ore prices have risen 15% YoY over the last 6 years. This is the natural trajectory of a finite resource that is in demand. At this initial rate, it’s not inconceivable that the average price could be $200, 4 years from now.
Perhaps that’s why China is attempting to artificially cap the price rises, the Belt and Road initiative will need plenty of steel. However, we saw what happened with Cane Toads. In attempting to fully control one aspect, another will spiral out of control, which will have them wishing they had just paid the higher iron ore prices.
Iron ore prices have risen 15% YoY over the last 6 years. This...
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