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Leading steelmakers ArcelorMittal and Corus have both slashed fourth-quarter production by 30%, while Rio Tinto and Brazil’s Vale have cut iron ore production 10%.
Felix managing director Brian Flannery told Dow Jones Newswires “October was the best month we’ve ever had”
“We supply north Asia and India, and we’ve not seen any changes [in demand],” he said. “Steel mills are continuing with blast furnaces, though some electric furnaces have shut down.”
On another front, Flannery said the company was still in discussions with third parties, with the company announcing back in July it had received takeover approaches.
Flannery did not provide details on any progress or how many parties were involved.
Felix shares last traded up 10c to $8.30.
