I'm new to the FMG party and recently bought it around 18s (got...

I'm new to the FMG party and recently bought it around 18s (got the divs).. Low-cost production and can survive I/O volatility.

On the green steel/iron stuff, a couple of notes from my professional experience and personal views:

While I understand that green iron bets do not seem attractive in the short term, I think they will eventually become standard requests / minimum requirements for access funding/credit and/or construction projects. Why?

Many investors are driven by ESG mandates and their money must be thrown into green initiatives (e.g. sustainable construction). I have been involved in many infrastructure construction projects, either in the delivery, transactions/procurement, and construction phases and guess what governments have been requesting for this kind of project?

Numerous sustainable initiatives and certificates, which warranties them the right to bid/deliver the project and/or have access to funding. Like EVs are being pushed now and governments are giving subsidies and stimulating EV ramp-up, I believe the same will happen for green steel eventually.