Trump Tariffs hit Chinese steel, page-30

I agree Battleship.

'IMHO the ladies that run FMG have made a tragic financial mistake in committing about $1.5 billion to dig up massive volumes of low priced red iron dirt. Thee Chinese are still ramping up production of subsidized steel to flog on saturated global markets BUT they are cutting back on low grade iron ore in an effort to cut back on massive air pollution.'

- just another 'uninformed' typical Hot copper B/S statement from another talking head.

This is what Reuters had to say:

'Fortescue is eager to improve the quality of its iron ore as its biggest customer, China, is increasingly demanding higher quality ore for steel mills to help cut smog.

Production from the mine is set to start in December 2020 and is expected to yield higher quality ore, closer to the benchmark of 62 percent iron content.'
This site's getting as bad as Facebook