Strong demand and margins – at their highest since 2018 – have lifted demand for higher quality iron ore products and China’s renewed focus on reducing steelmaking emissions is likely to restrain exports in 2021, supporting margins globally, Rio Tinto said. Photo: Barcroft Media via Getty Images
China steel demand leaves iron ore miners Vale, Rio Tinto struggling to keep up
- Brazil’s Vale SA churned out less ore than expected last quarter after lower productivity at one mine and a ship loader fire
- Rio Tinto Group’s shipments were disrupted by wetter-than-average weather at its Pilbara operations in Western Australia
Strong demand and margins – at their highest since 2018 – have lifted demand for higher quality iron ore products and China’s renewed focus on reducing steelmaking emissions is likely to restrain exports in 2021, supporting margins globally, Rio Tinto said. Photo: Barcroft Media via Getty Images
