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    Iron ore with 62 percent content in Qingdao rose by 0.3 percent to $83.53 a dry ton on Feb 8, according to Metal Bulletin Ltd. The commodity touched a two-year high last month. Hurdles from securing finances to displacing China''s homegrown magnetite supplies also present challenges to South Australia''s dream of reviving its iron ore .

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  • China steel, iron ore futures hit 3-mth highs as .

    Iron ore on the Dalian Commodity Exchange followed, rising more than 6 percent to hit 555 yuan a tonne, the highest since Sept. 13. Spot iron ore for delivery to China''s Qingdao port .IO62-CNO= has also surged, gaining 2.9 percent to $70.11 a tonne last Friday, according to Metal Bulletin.

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  • Steel industry in China - Wikipedia

    China underwent rapid economic industrialisation since Deng Xiaoping''s capitalist reforms which took place three decades ago in 1978. The steel industry gradually increased its output. China''s annual crude steel output was 100 million tons in 1996. 21st century. China produced 123 million tons of steel in 1999.

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    1.3 Structure of iron ore supply The suppliers of iron ore have undergone strategic restructuring since 2000. Three majors, namely, Vale (Brazil), Rio Tinto, and BHP Billiton (the latter two companies having two head offices, in the UK and Australia), now account for approximately 65% of the iron ore traded across the world.

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  • China''s steel mills hunt for high-grade iron ore .

    "Steel mills are not very interested in lower grade iron ore now," said an iron ore buying official with a private steel mill. Rio Tinto''s Pilbara fines typically grade 61.5 percent, while BHP Billiton produces 63 percent grade Newman fines and 59 percent Yandi fines. Vale mines even higher grades, including 65 percent Carajas fines.

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