According to National Bureau of Statistics, China’s – world’s largest iron ore consumer and importer has produced 325.07MnT crude iron ore during Jan-May’18. The production has declined by 56% compared to 508.68MnT in the same period last year.
China has produced 67.25MnT in May’18 down by 37% on yearly basis against 107.48MnT in May’17. However, on monthly basis, iron ore production is stable to 67.25 MnT against 67.47MnT in Apr’18. Due to strict govt. regulation on the environment in China, Steel mills owner prefers low alumina high-grade raw material.
As per figures released by National Bureau of Statistics (NBS), China produced 1.23 BnT of crude iron ore (Run-of-Mine) in CY’17, up 7.1 % as against CY’16.
On the other hand, the total iron ore imports for Jan-May’18 witnessed at 447.43 MnT, almost stable on yearly basis against 450.7 MnT in the same duration previous year (Jan-May’17).
Monthly average spot iron ore prices stable in May’18 -:
Average global iron ore fines (Fe 62%) prices are stable to USD66/MT in May’18 in line with the last month average prices.
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