It is just my opinion that nothing will really happen to production unless there is a disruption in supplies. If China makes a real move, and invades, or embargoes, then things will change. This is one of the reasons I ordered the lead screws, and nuts, PM does not have them in stock. Mine came from Taiwan by DHL, I just got them last week.
Em .. yes and no.
The US market depends on orderly deliveries at orderly prices to not upset stock market prices.
On Platts Market Movers Asia with Digital Editor Barbara Caluag: the iron ore market sentiment is on overdrive, after prices breached $200/mt for the first time in its history.
www.spglobal.com
At the moment there is no real physical problem - US.
There is plenty of US (scrap) steel, and US mills are gearing up.
Traders (financial markets) have driven up the price of *US* steel .. and this is great news for the US mills that are now re-starting production.
And activating their workers (jobs).
Within a shortish period of time, akaasm 3-4 months, US steel prices will swing to their typical feedstock+processing prices.
Somewhere around 600$ / ton, depending on how You measure it / measure what.
The US markets have been very much affected, in commodities.
But the global production or usage of commodidities is about the same, within 1-2%, essentially no change.
Except a bit less oil (==> gas, diesel, shipping, refining), and a lot less air travel.
-- and less Cruise ships, auto rentals, hospitality.
None of which are PM industries.
--
If china actually wanted to hurt US industrial production it c/p/would raise the prise of refining lithium or price of processing neodymium magnets.
But they wont.
If they did, within 2-3 years the US would have built new infrastructure able to do similar processing.
Probably at a higher price, initially, but so what.
Perhaps 2x higher price, or more.
The US does not yet want to develop highly efficient, low-energy, clean, lithium extraction or processing infrastructure.
5/2021.
So far, there are exactly zero national efforts to do so.
Tesla is the only US company to have done any meaningful EV battery stuff on a global level.
And accounts for about 35% of all global advanced battery efforts.