China’s Delong looks to join Simandou iron ore project

摘要

China’s Delong Steel is looking to join the Simandou iron ore project alongside Baosteel, Delong Steel chairman Ding Liguo said at a steel conference last week. “Simandou will be a good solution for steelmakers in China to negate the high iron ore prices that have had a large impact on steelmaking margins,” according to Ding, who is also chairman of Xintian Steel. Chinese steelmakers have been faced with high prices for iron ore due to strong demand for the steelmaking raw material, putting pressure on their profit margins.