Rizhao receives first batch of Ukrainian iron ore

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.