Top-grade iron ore may spike to $US100 on China clampdown

Original article by Krystal Chia
The Australian Financial Review – Page: 26 : 17-Jul-18

The price of high-grade iron ore reached $US91 a tonne on 13 July, and there is speculation that it could reach $US100. The demand for high-grade iron ore, which is classed as ore with 65 per cent iron content, is being driven by steel mills in China, where there is a major crackdown on pollution. Using high-grade ore enables steel makers to cut back on pollutants, as well as allowing them to produce more steel. The price of high-grade ore is up since the start of 2018, while the price of benchmark ore – which has 62 per cent iron content – has declined by 14 per cent.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, VALE SA, WOOD MACKENZIE, FORTESCUE METALS GROUP LIMITED – ASX FMG, IRON ORE RESEARCH PTY LTD, CRU GROUP LIMITED, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE

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