According to the National Bureau of Statistics, China – the world’s largest consumer and importer of iron ore has recorded crude iron ore production at 187.9 MnT in Q1 CY20, down 2% as against 192.3 MnT in Q1 CY19.
Also there reports that Qian’an and Qianxi were among three cities requested by Tangshan to ensure that most iron ore miners and individual beneficiation plants would suspend operations starting February 13 as part of enhanced efforts to fight COVID-19.
China’s crude iron ore output for the month of Mar’19 was recorded at 74.76 MnT.
China total iron ore and pellet imports for the quarter recorded at 262.7 MnT during Q1CY ’20. The imports witnessed a slight increase by 1.3% as compared to 259.33 MnT in Q1CY’19.
Yearly average iron ore prices up slightly in Q1CY20
The yearly average spot iron ore fines (Fe 62%) index in Q1 CY20 increased to USD 89.1 /MT, CFR China as against USD 88.4/MT in Q4CY19. Monthly average global iron ore prices increased to USD 88.1/MT, CFR China in Mar’20 compared to USD 86.5/MT, CFR China in Feb’20.
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