High grade Fe will always be in demand, regardless of SPOT market prices,unlike FMG, RIO, BHP.
My understanding, is, (please correct me if I am wrong), that high grade Fe is for nice shiny fridges, dishwashers, and alike, whereas, Fe 63 grade is smelted using lot's of fossil fuel, to make steel.
Obviously, the higher the grade, the less smelting involved, and more "green", like the Chinese gives a flying pig fart about that. So much for communism sharing the wealth.
However, I digress, about the demand for high grade Fe. It will always be there, in all markets.
MGX Price at posting:
83.0¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)