Rizhao receives first batch of Ukrainian iron ore
May 17, 2005, marked the first time that
China's Rizhao Port unloaded
iron ore pellets of Ukrainian origin. The only other
iron ore shipment of European origin that the port had handled was one from
Russia earlier in the year.
Since April 2005,
iron ore traders from
Australia,
Brazil and
India have raised their prices one after the other, leading to excessively high
manufacturing costs and lower profit margins for
China steelmakers. In order to cope with this disadvantageous situation, large steelmakers in
China are actively seeking new sources of
iron ore.
Rizhao Port seized this opportunity to improve its
iron ore reception quality, which in turn has attracted more customers to the port.