Reality. The lowest Chinese steel production figures since 2017 and the biggest IO stockpile since 2018. Evergrande has defaulted and the entire Chinese property market is on the brink of collapse.
Omicron is no more severe than mild flu. Young healthy people have almost zero chance of ending up in hospital. So Vale production won't be affected.
Iron ore will be back over $200US/T inside 3 months, page-6
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