Chinese steel mills chase low-grade ore as discount hits a low
12 June 2019 - 19:39
Beijing — Chinese steel mills facing a slump in profit margins are scrambling for lower-grade iron ore to cut costs, squeezing supplies and halting a long-standing market trend towards higher grade ore.
As iron ore prices surge, the spread between medium- and low-grade iron ore in China has narrowed to its smallest in two years, with some buyers turning to low-grade product from countries such as India to fill blast furnaces...
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