Interesting/encouraging comment here on the steel market (which is generally tied to the iron ore market) in this Bloomberg article:
https://www.bloomberg.com/news/articles/2021-05-10/iron-ore-turns-very-very-hot-as-prices-jump-10-in-minutes
Steelmakers in the rest of the world, such as ArcelorMittal SA, are also enjoying a boom as demand bounces back from pandemic lows. “There is a chance that ex-China demand can come back to such an extent that we still see steel demand pick up globally and that will see iron ore demand remain at these elevated levels,” CBA’s Dhar said.
Media Releases, page-559
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