Not sure what news you read but:
"Iron ore prices tumbled on Friday, collapsing under the weight of China’s resolve to reduce steel output in line with its decarbonization drive, and slowing domestic demand for the construction and manufacturing material."
https://www.mining.com/iron-ore-price-tumbles-on-gloomy-china-demand-outlook/
But the HC exspurts will tell you it's heading for $250. Your call.
Riley Iron Ore Mine - Progress, Photos and Calculations, page-615
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