This post was originally published on this site
Speaking on a call to media, Gaines said: “We are all aware there is a general determination from Beijing to ensure blue skies and … expectations are that we could continue to see some continued volatility as a result from that.”
However, there has been no indication of changes to long term contracts by customers, Gaines added.
Iron ore prices are down nearly 50% from record highs reached in May.
During a previous blue sky policy, Beijing has curtailed steel making to help ease air pollution.
