Russell: Iron ore and China steel output aren’t sticking to the script
The China steel and iron ore market narrative for 2021 was supposed to be pollution-led curbs on steel, coupled with rising iron ore supply. Neither is happening.
Iron ore’s starting to buckle after a series of warnings that prices are set to drop amid rising global supply, and as investors fret about the potential impact of escalating trade tensions between the U.S. and China.