10
Jul
07:30
NISCO signs blockchain ore contract with Hope Downs
Nanjing Iron & Steel (NISCO) in Jiangsu province in eastern China has signed a blockchain iron ore trade contract with Hope Downs Iron Ore (HDIO), a joint venture of Australian miner Rio Tinto.
A spokesperson for NISCO says it ordered 170,000 tonnes of Pilbara iron ore fines and lump from HDIO worth $16.87 million. The trade amount is equivalent to one Capesize bulk carrier, Kallanish notes.
Blockchain is a digital ledger and can be used to replace…
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Anonymous
Very good overview of the weekly steel market.
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