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Fortescue runs hot as China tries to cool steel sector – The Australian Financial Review
The iron ore miner remains confident of demand despite Chinese policy changes designed to take the heat out of the Chinese steel sector’s record-breaking year.
Ms Gaines stopped short of predicting the trajectory of iron ore prices, but expressed confidence that Chinese demand would remain strong.
We have to be mindful that there could be increased utilisation of scrap, said Ms Gaines on Thursday.
But there is a lot of installed blast furnace capacity as well, and we are seeing that extra capacity is well and truly being taken up as we see environmental restrictions impact areas like Tangshan.
We expect government policy in China to remain supportive of…
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