Those lovable buffoons at the Global Times with a tweet this time:
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Update time : 2021-06-08 15:19:39
There is a kernel of truth in this forecast, and there are developments underway in China that'll likely mean reduced reliance on Australian iron ore even prior to 2030, perhaps from as soon as 2025. China is scouring the world for other sources, and there are proposed changes to Dalian iron ore futures deliverable grades, from 62% (minimum 60%) to 61% (allowable range down to 56%) (Westpac the source for those numbers). This opens up delvieries from countries such as South Africa.
The main theme of domestic favourable macro front remains unchanged, SHFE aluminium prices showed a ‘v-shaped’ rebound today
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