The price of ore is determined by many factors, such as iron content, impurity composition, ore type, futures, spot and so on. For large iron and steel enterprises and their own mining plants, ore prices are usually considered to be relatively low in internal settlement.
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You can't just look at the iron content. There are many components in ore, such as phosphorus and sulfur, which have great influence on ironmaking. In a sense, blast furnace ironmaking is slag blending, that is, impurity removal. The efficiency of blast furnace depends largely on the quality of its raw materials.
Imported ores, especially Australian ores and Brazilian ores, are expensive because of their high grade and low harmful components. Although there are many ore reserves in China, they are too miscellaneous, with many poor ores and few rich ores, and even fewer ores with high iron content and low harmful components.
China's iron ore generally needs beneficiation to make iron, while Australian and Brazilian iron ore can be directly put into the furnace without beneficiation, which is also the reason why China's iron ore beneficiation technology leads the world. China didn't also the way. Many low-grade ores are of little value to foreigners.
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Because imported ore is relatively expensive, it is usually mixed with a variety of ores when used in steel plants. Australian ore, Pakistani ore and domestic ore are mixed according to the best economic benefit, sent to sintering process, sintered into sinter or pellet, and then put into furnace for ironmaking. At present, there are many Indian mines imported from China, but the quality of Indian mines is not as good as that of Pakistani mines and Australian mines. The quality is very unstable, often with high aluminum content, which is not as good as that of Pakistani mines and Australian mines.