Global iron ore export volumes reached around 786 million tonnes (mnt) in January-June 2024 (6MCY’24) compared with 751 mnt in the corresponding period of last year – an increase of roughly 5% y-o-y, as per provisional data collated by BigMint which represents approximately 98% of the global seaborne market.Iron ore trade volumes increased despite global crude steel production remaining largely flat: World Steel Association (WSA) data shows that crude steel production in January-May stood at over 793 mnt in the 71 countries reporting to WSA – a negligible decline of 0.1%.
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