The spread between low- and high-grade iron ore has blown out to the highest on record in dollar terms, suggesting Chinese steel mills are trying to maximise output by using as much of the best quality ore as possible.
Commodities from steel to iron ore to copper have gained strongly this year, partly on bets that massive U.S. government spending to rebuild infrastructure.
Imported iron ore stocked at Chinese ports dropped for a fourth straight week to 123.95 million tonnes, as of Friday, hitting the lowest level since early October.
Chilean startup InDiMin is pioneering AI developments for the mining value chain, from planning to drill and blast, load and haul, mineral recovery and grinding processes.