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China steel mills chase top quality iron ore to boost output

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Published Wed, Aug 31, 2016 · 09:50 PM

DeeperDive is a beta AI feature. Refer to full articles for the facts.

Shanghai

CASHED-UP Chinese steel mills are chasing top quality iron ore to help increase output and meet Beijing's tougher environmental standards, driving the premium for high-grade ore to its biggest in two years.

In the latest sign of renewed optimism among China's steel producers as capacity cuts boost steel prices, producers are turning away from cheaper ore with a lower iron content, contributing to growing stockpiles at domestic ports.

Steel

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