"Every expert in the business says IO prices are going to fall massively over the next few years"...
...not every expert it seems...
"Chinese demand again appears to be central to the debate. Fitch Solutions said:
We are revising upwards our iron ore price forecast for 2022 and 2023 from US$90/tonne and US$75/tonne to US$120/tonne and US$110/tonne respectively, as prices reversed course in December 2021 and are embarking on an uptrend after collapsing in mid-2021.
Chinese demand has once again started picking up and will remain strong in 2022-2023, with the government’s renewed stimulus towards the infrastructure sector in the face of slowing economic growth.
We believe that prices will receive support from supply constraints and renewed Chinese demand strength in 2022, such that the annual average iron-ore price for 2022 and 2023 will remain above pre-Covid-19 levels"...16 June 2022
...good luck with your crystal ball...Just don't assume it's giving you a clear vision of what the future holds....
next dividend, page-91
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