Are they really reducing steel production? They have increased iron ore imports? Very strange!
Anyway, there is a certain amount of steel required in the World. This amount is increasing. Steel production outside of China has increased 14%. It will increase further if China reduces. Coking coal required for all non green steel. Coking coal worldwide is a dwindling resource.
Nobody knows what market will do but I am happy being in coking coal and and to lesser extent iron ore.
The Sounds of Accumulation, page-397
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