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Chinese mills were heard to be running quite low on iron oreinventories, having not actively been procuring raw material for the pastmonth and a half. A Beijing-based trader said the market would see more firmness becausean increasing number of Chinese mills were displaying an interest inrestocking iron ore.
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China s steel mills are opting to buy higher grade iron ore cargoes domestically and from the seaborne import market over readily-available mostly medium and lower grade port stocks as this is proving more economical amid high steel prices, market sources said Monday.
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Oct 10, 2018· Steel mills in India are increasingly tapping the global market for iron ore as they find it difficult to transport the key raw material from local mines, and demand for the metal surges in ...
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China's steel mills are opting to buy higher grade iron ore cargoes domestically and from the seaborne import market over readily-available mostly medium and lower grade port stocks as this is proving more economical amid high steel prices, market sources said Monday.
Iron ore is the raw material used to make pig iron, which is one of the main raw materials to make steel—98% of the mined iron ore is used to make steel. Indeed, it has been argued that iron ore is "more integral to the global economy than any other commodity, except perhaps oil".
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2017 REVIEW: Chinese mill margins divide iron ore grades The price spread between higher and lower grades of iron ore continued to widen in 2017, mainly as a …