Domestic iron ore supply in China has limited capacity to ramp up after smaller and higher cost miners exited the market over the past few years, a local miner said.
China's domestic run-of-mine (ROM) iron ore production was estimated at 763 million tonnes in 2018, down 37.9% from a year earlier, chief executive officer and vice chairman Greg Pan of Hanking Industrial Group said in his keynote speech last week in Fastmarkets MB's China Iron Ore conference in Beijing.Pan attributed the sharp contraction to the closure of many small and medium-sized low-quality iron ore mines due to stricter environmental regulations and high costs.In terms of concentrate, which is of a comparable grade to seaborne supply, China's iron ore...