China’s – world’s largest iron ore consumer and importer, produced 189.46 MnT crude iron ore during Jan-Mar’18. The production is down by 36% compared to 298.19 MnT in the same period last year.
According to National Bureau of Statistics, China produced 66.89 MnT crude iron ore (Run-of-mine) down by 41% Y-o-Y in Mar’18 against 113.6 MnT in Mar’17.
Price of domestic concentrate in Hebei province was at RMB 730/MT, (including 17% VAT) at the beginning of Mar’18 while prices declined to RMB 640/MT (including 17% VAT) by month end.
According to figures released by National Bureau of Statistics (NBS), China produced 1.23 BnT of crude iron ore (Run-of-Mine) in CY’17, up 7.1 % as against CY’16.
Monthly average spot iron ore prices dropped sharply by 10% in Mar’18 –
Average global iron ore fines (Fe 62%) prices declined sharply by 10% to USD 69/MT, CFR China in Mar’18 amid a plunge in futures over US tariff imposition and increased stock at ports.
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