China – the world’s largest consumer and importer of iron ore has recorded crude iron ore production at 413.95 mn t in H1 CY’20, up 2% as against 406.94 mn t in H1 CY’19, according to the National Bureau of Statistics. The output increased amidst rise in production by steel mills post lockdown and recovery in construction activities. On a quarterly basis, the output recorded at 227.3 mn t in Q2 CY’20 as against 185.9 mn t in Q1 CY’20.
China iron ore & pellet imports picked up in H1 CY’20
The total Chinese iron ore and pellet imports in H1CY’20 was recorded at 546.9 mn t, according to the General Administration of Customs. The imports have witnessed a rise of about 9% in H1CY’20 as against 500.46 mn t in H1 CY’19. Average global iron ore fines (Fe 62%) price dropped marginally to $ 91/t, CFR China in H1 CY’20 against $ 92/t, CFR China in H1 CY19.
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