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Iron ore from paradise wins no takers as China upends market

China's push to clean the air has exploded the price differential between high and low grades

Swansy Afonso | Bloomberg 

A China-led flight to quality in the global iron ore market is punishing producers of the lower-grade material, with miners in India facing an increasing battle to find buyers for their cargoes as demand dwindles. In Goa, exporters are struggling to sell even a quarter of what they shipped last year, according to Glenn Kalavampara, secretary at the Goa Mineral Ore Exporters’ Association. “There’s absolutely no market,” he said by phone from Panaji, capital of the western state that’s better known for its sparkling beach resorts. “The preference ...

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First Published: Sat, December 09 2017. 02:48 IST
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