Korelin Economics ReportRisky, good find and interesting because I just finished listening to this report by Chris Berry concerning how one of the major cities in India, who also is one of the largest producers of over 25 million tons of Iron Ore of the total 100 million tons produced, now classify Iron Ore as a strategic metal or resource in the same class as lithium or rare earths.
This is unpredented as the first time an industrial metal is now included in this group. This also means, as stated in the report, that 25 million tons is now off the markets!
80% of production is very closed held by Rio Tinto, Vale and BHP so other players such as Cliffs will now have to fill the gap.
Iron Ore is the world's 2nd largest commodity, the report indicates, after oil and amounts to a $200 billion a year market.
In 2009 the Chinese imported 628 million tonnes and the demand for more is like a huge vacuum cleaner as 300 million citizens yearn for a higher standard of life on the back of resources.
I personally was unaware to the degree that this demand is gaining momentum and should continue for some time. Here is the link to the report for Dec 18 and go to segment 7.
https://www.kereport.com/2010/12/18/concerned-implication-continual-government-spending/