Decarbonization in the steel industry creating two-tiered iron ore market - Fastmarkets
"Franco added that the expansion of carbon neutral steelmaking feedstocks like direct reduced iron (DRI) in response to the establishment of more rigorous carbon reporting and pricing is expected to put a strong premium on specialized ores that help to reduce emissions vis a vis other mid-grade ores.
High-grade iron ore pellet feed, which typically has an iron content of 67% and above and a combined gangue (silica + alumina content) of less than 3.5%, is commonly the feedstock in the production of direct-reduced (DR) pellets, which are then in turn used to produce DRI – a feedstock for steel production with the electrical-arc furnace (EAF), alongside scrap or pig iron.
The two-tiered iron ore market which is expected to serve two varied functions towards steelmaking will ultimately trade on different pricing fundamentals due to differences in supply, demand and ultimately function, wherehigh-grade iron ore will trade at a differentiated premium."
MGT is 67.5%FE with less than 2.5% alumina. It will definirtely go over USD150/ton by 2030. Have a great weekend everyone and stay rich. Cheers.
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