Scrap in short supply, iron ore in high demand18 October 2023 – With steel scrap hard to come by in China, steelmakers are scrambling for iron ore. Chinese iron ore stocks have now fallen to their lowest level in 7 years despite high imports. Worldsteel expects demand for steel to continue to grow by up to 7.7%. And emerging markets should point to dynamic growth in 2024, according to the International Monetary Fund. Source