An interesting read on the IO output of countries from 2010 to 2020.
Only 2 real movers, China massively cut their productions and Australia massively increased it. No wonder they are annoyed at us.
There are many reports out stating that Australia and Brazil are almost at full production capacity as the low prices seen over the past 5 years have not encouraged the larger of producers to invest in further capex to increase the production and smaller mines cannot pick up enough tonnage to suppprt any sizable demand increase.
I think what we are going to see is an elevated pricing structure throughout the short to mid term given the enormous amount of world government stimulus being put on the table. My prediction is that IO will be well supported with a lower range of $140-$150/t and an upper range of $180-$190/t.
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An interesting read on the IO output of countries from 2010 to...
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