Betting on strong Chinese demand for iron, Ferrexpo plans to spend $2 billion in capital investments to double its production of iron pellets by 2030

, reports Interfax-Ukraine. This year, the LSE-listed company is increasing production by 14%, to 12 million tons. A combination of strong Chinese demand and the Biden Administration’s planned infrastructure renewal plan have contributed to a doubling of world iron ore prices over the last year, to $208 a ton yesterday.