Via Domainfax:
Rio Tinto chief executive Jean-Sebastien Jacques said the curtailment of small, inefficient steel mills in China was driving demand for the higher grade stuff.
“It is absolutely clear that the Chinese government is pushing hard to restructure the high polluting blast furnaces and therefore reduce capacity but when you look at what would happen, it would remove the low productivity, highly polluting blast furnaces in order to drive the productivity of the best blast furnaces, and in that sense it could be an opportunity for us because we would see a switch from low grade iron ore to higher grade iron ore,” he said.
