Iron ore price, page-52206

hey WesTig, thanks for the msg! There’s about 1mt of IO being shipped to the west of India each month. I think it’s from Gina’s company though. At one point, India will import IO just like it imports coal.

They still produce enough IO to supply their local steel sector but steel is growing 10% a year there. So soon what will happen is India will ship less iron ore to China, which means less iron ore for China. This will increase IO $$$$. They have shipped 45mt in the last year, which is material.

then India will want more IO from Oz once their steel sector grows to 300mtpa. That’s their goal in the next 6-7 years. Then 500mt by 2045! They can’t significantly increase IO production there. There are no massive untapped resources that will be developed in the near future over there.

hopefully it will be FMG IO! I’m sure twiggy would want fmg to diversify/spread the risks of its customers. No doubt twiggy would be having those conversations with India before they come knocking on our door.

cheers