Australia - Latest news GMK Center

Sales of iron ore during this period increased by 15% y/y

The Australian Institute of Steel indicates that this raw material is a scarce resource

Research groups, start-ups and companies will receive the funds

Compared to February, export shipments increased by 33%

The country also lowered the forecast for the export of these products

Demand for raw materials in the Asian market remains weak

Funding from the Australian Government will go towards the installation of a new electric arc furnace at Liberty Steel's Whyalla plant

Such an indicator is recorded for the first time in the last 5 months thanks to stable demand in India

The Indian government is also seeking to increase domestic production of this raw material

The company expects to produce pellets and hot briquetted iron (HBI) in the Port Hedland region

At the same time, the volume of foreign shipments of iron ore and coking coal will increase

In August, the country shipped 71.7 million tons of iron ore to foreign markets