….in the long run the switch to larger blast furnaces benefits producers of high grade ore (many on this board myself included have positions in larger miners that are positioned to exploit this transition).
Indeed. This is the whole point of VALE’s expansion project at Carajás (#msg-77035338—see the annotations about ore quality).
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”