Chinese steelmakers are increasingly adjusting their sinter feed ratios to consist of more low-grade iron ore to go with the high-grade products they are already consuming - instead of mid-grade fines - amid rising costs and weakening margins, market sources said.
The switch mirrors that in the third quarter of 2020, when low inventory levels for mid-grade fines at Chinese ports led to price increases for such products against a background of strengthening steel demand in September and October, sources said.The shrinking margin proxies were largely due to the rising cost of producing...