Interesting article today in the AFR about Fortescue and Iron Ore Grades and the push for higher grade output.
“Surging prices for coking coal had also reduced demand for low grade iron ore.Steel mills using lower grade iron ore require more coking coal to act as a reductant than when they use ore with high iron content.With coking coal prices reaching astronomical levels in China this month, steel mills have been keen to minimise consumption of coking coal and have therefore been incentivised to buy high grade iron ore.”
This bodes well for companies like MGT who have access to vast amounts of high grade product.
Interesting article today in the AFR about Fortescue and Iron...
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