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Post Info TOPIC: New Chinese smelting process


Senior Member

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Posts: 241
Date:
New Chinese smelting process


The Chinese have developed a new smelting process that is 3600 times more efficient. It reduces the smelting process from hours to a few seconds.

It can also use low grade iron ore to make high grade steel. China has abundant low grade ore, so wont need the high grade ore it currently gets from Australia.

Considering 80% of Australia's iron ore goes to China, this is very bad news for Australia.

With coal mines closing down and now the potential loss of iron ore exports, this will make balancing budgets for future governments very challenging.

I'ld post the article, but don't know how to. Sorry.

Collo.



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Guru

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Posts: 1921
Date:

I'd read that article too.

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Guru

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Posts: 2041
Date:

I guess nothing is going to last forever. We have been facing increasing competition from other countries in relation to our iron ore and the market was going to tighten considerably.

I remember as a child when the UK entered the European Common Market and we were all told of the gloom to follow with our dairy and wool industry to supposedly collapse.

Something always comes along to fill the void.



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Guru

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Posts: 4182
Date:

How did the stock markets react to the news?

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"No friend ever served me, and no enemy ever wronged me, whom I have not repaid in full."

Lucius Cornelius Sulla - died 78 BC 

 

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Guru

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Posts: 1766
Date:

Maybe we can get some production here. It would be nice to be able to buy good quality 18/8 stainless steel cutlery again.

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