China data boosts iron ore futures, traders optimistic
NewsTotal shipments from Australia and Brazil – significant iron ore suppliers – decreased by 12.5% week-on-week to 22.08 million tons for the week ending March 18.
Baosteel looks overseas for expansion
StandardNot only is the massive Chinese steelmaker Baosteel expanding its domestic activities through links with foreign steelmakers – notably an agreement with Nippon Steel and Arcelor to build a new steel mill in China – but it is also assessing the feasibility of setting up a new plant in Brazil in conjunction with the Brazilian mining conglomerate Companhia Vale do Rio Doce (CVRD), to output some 3.7 mtpa of slab.
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