Chinese Iron Ore Miners Expand as Steel Output Levels Off

Base Metals Investing

Reuters reported that China’s steel mills are slowing expansion due to environmental crackdowns, but that iron ore miners are still barreling forward.

Reuters reported that China’s steel mills are slowing expansion due to environmental crackdowns, but that iron ore miners are still barreling forward. The increasing growth and dropping demand from China has led to a 20 percent drop in iron ore prices so far this year, according to Reuters.

As quoted in the publication:

The fight against pollution has led to the shutdown of some steel mills in China, the world’s biggest producer of the alloy, where output reached a record 779 million tonnes last year. Tight credit has also increased costs for steel makers by 22 percent in the first quarter from a year ago, the association has said.

Click here to read the full Reuters article.

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