IRON ORE WEEK: Chinese mills' profits will keep shaping grade choices, FMG says

Chinese mills’ choice of iron ore will remain co-related to their profitability given the cyclicality of the market, according to Fortescue Metals Group (FMG) chief operating officer Greg Lilleyman.

“There has been much debate about the structural shift in the industry and a move away from low-grade products,” he said during the Singapore Iron Ore Forum - the anchor even of the Singapore Iron Ore Week - last Thursday May 9.

Many market participants, including global miners, have described Chinese steelmakers' preference for high-grade iron ore as a structural shift in the market amid the Chinese government's focus on...


Deepali Sharma

May 13, 2019

07:48 GMT