China is now enforcing strict restrictions aiming to keep 2021 steel output in line with 2020 levels.
Iron Ore futures sank to as low as $US99.50 on the Singapore Exchange on Friday, to then close the week down a further -4.9% to $US101.95 a tonne.
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Within the resource space, our preference remains BHP, WPL and NST as core holdings. OZ Minerals is the preference in base metals.
The OZR ETF provides a basket trade, weighted towards BHP, RIO, FMG NCM and WPL as the top 5 holdings.
