15
Dec
09:50
Rio rules out $30/t but supports expansion
Rio Tinto chief executive Sam Walsh has said that iron ore prices simply cannot work at $30/tonne. Low prices are no reason to pull back on expansion plans, he adds.
Although prices have now dropped well into the $30s, (the Kallanish index hit $37.74/dry metric ton cfr Qingdao on 15 December), $30/t remains “dream land,” Walsh told Bloomberg. That level would not allow for sufficient supply in the market, he argues.
With miners continuing to expan…
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Anonymous
Very good overview of the weekly steel market.
Anonymous