New report from RBCHere's the summary, no update on LIF specifically'
Iron ore sets another new high
Our view: Both iron ore and met coal (CFR China) are benefiting from strong steel demand in China,
and prices are showing that. With iron ore's move above $190/dmt, we estimate the commodity is
~2.4x the 90th percentile of the 2021 ASIC cost curve, which highlights the strong FCF generation
potential of iron ore producers. Met coal CFR China moved higher w/w, but FOB Australia continues
to be bogged down by China's ban on Australian coal and the worsening COVID-19 situation in India.