Have to like the commercial decision, replacing US$200 a ton Iron Ore feed for US$532 scrap metal feed. Their accountants heads would be spinning with the increase in billet conversion cost.
77,000 tons about two vessels, think the imports predominantly due to the increase in profitability for the EAF's due to current steel prices and subsequent ramping of production impacting local scrap metal supply.
May also be a strategic decision as steelmaking around the world continues to ramp up scrap metal availability will reduce, can't just dig it out of the ground like IO.
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Have to like the commercial decision, replacing US$200 a ton...
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