The ferrous complex is inhaling deeply on the crack pipe again as spot and paper hold while steel firms:
The state of iron ore commentary in the press today is embarrassing. Just because some company says something doesn’t make it true. Indeed it usually means the opposite is likely:
Vale said on Tuesday it would produce between 354 million and 373 million tonnes of iron ore and iron-rich pellets in 2022, and a slide presentation said 400 million tonnes would be achieved in the medium term.