Chinese iron-ore imports on cusp of turning negative – Liberum

Chinese iron-ore imports were on the cusp of turning negative as China’s steel industry grappled with unsustainable margins, Liberum Mining said on Thursday. Liberum Mining analyst Richard Knights, speaking on video, cited last week’s default by Sino Steel on a $315-million coupon payment as a potential catalyst for the rationalisation of the Chinese steel industry, where mills are losing at an estimated rate of $60/t of steel produced.