China’s – world’s largest iron ore consumer and importer, produced 67.47 MnT down by 35% in Apr’18 against 103.4 MnT in Apr’17. However, on monthly basis, iron ore production has increased marginally by 1% against 66.89 MnT in Mar’18. Last month witnessed the most volatility in iron ore market and inventory replenishment at dockside in China.
According to National Bureau of Statistics, China has produced 257.82 MnT crude iron ore during Jan-Apr’18. The production has declined by 36% compared to 298.19 MnT in the same period last year.
On the other side, iron ore (including pellets) imports to China have come down by 2% Y-o-Y to 353.3 MnT in first four months of CY’18 compared to 360.03 MnT in same time frame last year.
As per 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 decline by 4% in Apr’18 –
Average global iron ore fines (Fe 62%) prices decreased sharply by 4% to USD 66/MT, CFR China in Apr’18 against USD 69/MT, CFR China in Apr’18.
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