Frankycc
The real catalyst for this move is the announcement by the Chinese that all the arc furnaces are now closed and will stay closed. This means the other modern mills are now scrambling to get a share of the gap action in terms of steel production.
Indian low quality production has now gone and so has most of the low quality production from Chinese mines - expect to see the discount rapidly close in the next month.
Iron ore price, page-1940
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