IRON-ORE
The world’s top steelmaker may have a shortage of steel. China has a lack of rebar, according to iron-ore miner Fortescue Metals Group, which says a shortfall of the key product helps to explain a divergence between the price of the commodity it digs up with the alloy it’s made into.
There’s a shortage of rebar, Fortescue’s CEO Nev Power said in a Bloomberg Television interview in Beijing on Monday, citing closures in China of some steel producers, especially operators of induction furnaces. Rebar, or reinforcement bar, is a basic item used to reinforce concrete.
Please enter the email address that you used to subscribe to Research Channel. Your password will be sent to this address.
Don't have any login details?
Free Trial Access