- In Brazil, historic environmental restrictions and, at least in Q1 2020, heavy rains hampered Vale's operations. However, output came back as 2020 progressed.
- Australia had fewer environmental and pandemic-related challenges. However, the country has been fighting an ongoing trade war with China.
- In China, iron ore demand proved to be extremely strong in 2020, as infrastructure investment drove a robust recovery in the economy. But as the effects of those stimulus measures ease through 2021, demand should soften.
For further details see:
Have We Already Seen Peak Iron Ore Prices For This Year?