Just had a bit of a search of North Korea's IO 'capacity'. Their main mine is said to have reserves of 3 Billion tonnes, but it is 41% FE, so China would need significantly higher grade IO to blend, to meet its requirements. Not sure what FE level China's domestic ore is, but I had thought that it was lower than 41%. Maybe all the really heavy ore sank to the southern hemisphere?
Iron ore price, page-22103
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