Iron ore price, page-50247

There are some interesting dynamics at play I feel.

The significant drop in exports to western countries may in part be to the onshoring movement, the return of productive capacity to western countries. I have read a number of articles about massive factory developments in the US with a high degree of automation and reduced labour needs to be competitive with China … this would lead to permanent demand destruction for certain classes of product (maybe not steel production … weak exports and weak internal economic conditions will crimp expansionist aspirations of the Xi’s leadership … the US seems to be undergoing a resurgence in innovation.

On steel production, FMG has a role to play with Chinese mills, possibly green steel production technology and iron ore blends to suit?

Dex