Rio Tinto underlines Chinese demand for high-grade seaborne iron ore

Rio Tinto maintains its iron ore shipment guidance at 330-340 million tonnes for 2018, the miner said while addressing investors in Perth, Australia, on Monday June 18 as it underlined robust demand for high-grade iron ore from China.

The miner said that the scale and timeframe of China’s steel capacity reduction was unprecedented and coupled with the country’s environmental restrictions, structural changes had occurred in the iron ore market leading to a productivity focus by Chinese mills and a preference for higher grade ore.

Last month, market participants had noted that the widening grade differentials in the iron ore market had created the need for derivatives for...

Published

Deepali Sharma

June 18, 2018

08:05 GMT

Singapore