The other markets are not restricted by the policy and restrictions of the Chinese government, So the steel mills in the other markets are not affected, So they do not have the pressure to compete to pay such high premiums on the high grade or to avoid the low grade.
You can make more money making steel using 58% grade ore at a 15% discount, than you can paying full price for bench mark grade or a premium for high grade.
The only reason the 30% discount exists in china is due to policy of the government causing the steel mills to prefer high grade, and hence require a bigger discount than normal to make taking the lower grade worthwhile, this situation only applies in china.
Other markets only require a 10% - 15% discount to make taking the lower grade worthwhile.
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