Iron ore price has breached 167, almost doubling from Nov 2021 lows in just 4 months. What a ride it has been. The drivers for the outperformance remain the same – supply disruption, expectations of increased demand and uplift from general euphoric commodity sentiment.
At these prices, it is potentially entering bubble territory. It is probably still too early to short it, as the situation is still very fluid. Thus I am just continuing to monitor closely.