MIN chart, page-294

Yeah I know exactly what you mean, don’t trust them, I find it funny how CE said Baowu to Minres last year that we expect iron ore to stay around $100 a tonne for the next 5 years and now Baowu are saying expect a long iron ore winter….lets not forget they are a state owned enterprise so are going to say what the government wants the narrative to be. It’s no different to lithium at the moment, Chinese are trying to say the market is oversupplied bur they have brought on inferior lepidolite and low grade spodumene to try and control the market…eventually it will end up like iron ore and have 5-6 big players that are really low cost that the Chinese can’t compete with