GREY:AXXDF - Post by User
Post by
bsmith11on Aug 30, 2012 2:27pm
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Post# 20280761
chinese usage
chinese usage
The price for iron ore has gone down, the chinese have about 1500 iron miners, who have started to shut down as they are losing money[about 300 million last year] their costs are over 100 $ per ton. This information is everywhere to be found. Also their mines have a grade of 25% at best so need to mix foriegn ore to the mix.
The chinese in fact have not stopped making steel the volume produced is the same as last year,they are building infastucture to house their population which is growing,the world is growing by 200,000 thousand people per day.
China and india would not like to much said as it will raise prices. When the world rights itself Alderon and Cap ex ventures should be one company serving the new market.
Good luck everyone