According to National Bureau of Statistics, China – world’s largest consumer and importer of iron ore has witnessed fall in crude iron ore production for Apr’19. The production in Apr’19 recorded at 68.5 MnT, down 2% against 69.8 MnT in Mar’19. The drop is owing to decline in production in North China’s Hebei province. The production curb in steel making hub of China, Tangshan has been extended till Sep this year.
Also, as per reports received to SteelMint, China’s Hebei province this year will shut down 40 mines (other than coal mines) and 51 tailings dams which may further adversely affect the production at Chinese mills.
On yearly basis, production picked up as against 67.47 MnT in Apr’18. For CY19 (Jan-Apr’19), production recorded at 256.82 MnT as against 257.82 MnT in CY18 (Jan-Apr’18).
Average global iron ore fines prices up 8% in Apr’19
Monthly average global iron ore fines (Fe 62%) prices increased to USD 93/MT, CFR China in Apr’19 as against USD 86/MT, CFR China in Mar’19.
China iron ore & pellet imports fell to 18-months low in Apr’19
China iron ore imports for Apr’19 recorded fall of 7% to 80.77 MnT against 86.42 MnT in Mar’19. The import volumes has dropped to 18 months low as it was last witnessed in Oct’17 at 79.42 MnT. The imports dropped amid supply constraints from world’s major iron ore miners in Australia and Brazil.
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