ocka
"China wants a quality product!"
That is true... High grade ore is in demand.. Low quality 58% ore is not so much.
http://au.news.yahoo.com/thewest/business/wa/a/21933793/green-china-may-change-ore-world/
From the link...
"Speakers said China's focus on environmental issues could lead to a structural shift in buying patterns favouring higher-grade product, lump ore and pellets, at the expense of lower-grade ore being shipped by Pilbara producers "
"The supply growth in the market in the past two years is driven by lower-quality ore out of Australia - 58 per cent ore. Starting from 2015 you're going to see much stronger growth in supply of higher-grade ore, especially coming out of Brazil," Mr Szpakowski said.
That would lead to a bigger difference in price between lower-grade Pilbara ore and higher-grade products produced by Brazil's Vale and BHP Billiton and Rio Tinto."
Add to that a combined silica and alumina of over 13%. Equals lower price. High grade ore, it is not.
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