Would it be the cap for the iron ore prices in 2021?
Wellington Ceciliano
Commodity Marketing Sales & Sourcing (B2B) Head of Commercial
Bloomberg released an article this week exploring the current relationship between AUS-CHI... where they said "Iron ore is Australia’s biggest export earner, and relations with Canberra have taken a turn for the worse in recent weeks. But adding the mineral to a raft of curbs already in place on Australian commodities would be a risky move given near-record prices and China’s dependence on Australia’s high-quality supply for about two-thirds of its imports."
Then, yesterday, a new article from the same source (shared by https://www.mining.com/) added more sauce in situation: “Commodity inflation has pushed China to meaningfully slow credit growth this year and implement non-monetary measures designed to slow construction capex growth, one of the main drivers for materials demand,” KeyBanc Capital Markets analysts led by Philip Gibbs wrote in a note. “Traditionally, this has been a bearish signal for commodity stocks.”
Strategic Deployment Manager | Mining Technology Solution at Komatsu
3 年Wellington, I can't believe China and Australia are crazy to break the relationship or ... Cheers.
Agente De Ventas
3 年Hellow dear Wellington, only increase more and more the price including all this cojuncture for others matters (issue of money, criptos conjuncture, covid, lack of logistic, etc...)