Low-grade iron ore is giving the steel industry something to rejoice in a time when the ban on mining the high-grade variety was giving the mining giants sleepless nights. To prove the same, an expert associated with Nordbell Commercial Limited, Vaman Kumar has compiled and shared recent data and given his expert opinion to put light on the matter.
According to Vaman Kumar, the recent rebounding of the steel market boosts demand for medium to low-grade ore related to spot markets. This in turn lends support to lower grade spot prices and encourages offers in the market actively traded.
Why low-grade iron ore is traded?
Low-grade iron ore has helped the steel industries get the much-needed raw material at a time when high-grade ore varieties seem to be a victim of over mining in most rich belts. Vaman Kumar states, “The modern mining scenario leaves little scope for finding optimal reserves of high-grade iron ore. Naturally, the low-grade varieties are emerging as the leading choice among the steelmakers everywhere; boosting trade.”
For more information visit: Vaman Kumar Nordbell
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