Steel Production Record Reached In China
"A supply squeeze caused by mine closures in Brazil is not the only reason iron ore rose this week to a five-year high of $97.95 a ton. Demand is also a factor, with Chinese steel production running at a record annualized rate of more than one billion tonnes for the first time. The combination of Brazils problems and surprisingly strong Chinese steel production during a trade war with the U.S. could soon see the iron ore price move back above $100/t, and stay there for some time." https://www.forbes.com/sites/timtreadgold/2019/05/17/steel-production-record-reached-in-china-helping-drive-iron-ore-closer-to-100-a-ton/