China – the world’s largest consumer and importer of iron ore has recorded crude iron ore production at 73.02 mn t in July’20, down 7% as against 78.3 mn t in June’20, according to the National Bureau of Statistics. Output fell amid heavy rains last month, SteelMint learned. The output for CY ’20 (Jan-July) recorded around 3% rise to 486.44 mn t compared with CY19 (Jan-July) output at 474.72 mn t.
Iron ore imports hit record high in July
The Chinese demand for iron ore remained strong with rise in construction activities. However, amid easing shipments from Brazilian miners, Chinese domestic production remained on the lower side and imports picked up.
The country’s total iron ore and pellet imports in July’20 recorded at 112.65 mn t, up 11% m-o-m, according to the General Administration of Customs. The imports hit record high levels for the month amid rising shipments from Brazilian miners and rising Chinese demand post end of the rainy season in southern China.
Monthly average iron ore prices up 4% in Jul’20
Monthly average global iron ore fines (Fe 62%) increased significantly by 4% to $107/t, CFR China in Jul’20 against that in last month at $103/t, CFR China.
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