JP Morgan analysts with a note on mining stocks, Rio Tinto and others re iron ore are being viewed favourably.
On China JPM have this to say:
- China steel demand has proven more resilient as infrastructure demand offsets poor property sector demand (both ~30% of China steel demand) and excess output is finding its way to the export market.
- With the iron ore market relatively more balanced medium term, we raise our 2023-25 iron ore price forecasts +6%/+13%/17%
Alien Metals Ltd (LON:UFO) is a global minerals exploration and development company that will shortly make the transition to iron ore producer. The company was formed from Arian Silver in late 2018, retaining some of the companies more valuable Mexican projects before embarking on an acquisition led strategy, headed up by an excellent geological team and targeted entirely on Western Australia.