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 74.38 MnT in Apr’20, down slightly as against 74.76 MnT in Mar’20.
On a yearly basis, output picked up by 9% as compared to 68.5 MnT in Apr’19.
China iron ore and pellet imports recorded at 97.27 MnT in April 20. The imports witnessed a 13% increase on a monthly basis as compared to 85.91 MnT in Mar ’20.
Monthly average iron ore prices fell in Apr’20
The monthly average spot iron ore fines (Fe 62%) price decreased by 5% to USD 83.95/MT, CFR China in Apr’20 against last month at USD 88.1/MT, CFR China due to shifted demand from medium and high-grade ore to low-grade iron ore for cost effectiveness. However in May’20, prices are on an uptrend on concerns on Brazilian iron ore supplies.
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