China's steel mills depending on Indian supply of iron ore

China's steel mills depending on Indian supply of iron ore

China’s steelmakers plan to look for domestic miners and other alternate suppliers because they won't accept Vale's hiked price. On the other side, India assures iron ore supply to China after the dispute between China and Brazil's Vale, and 15 percent export duty will be removed as well.Moreover, Federation of Indian Minerals Associations secretary general R.K. Sharma said that they intend to relieve Chinese mills and try to fill the gap caused by failure in importing from Vale.