Australia-based mining and materials company Arrium Limited has announced that in the June quarter this year it produced 2.34 million mt, down 35 percent compared to the previous quarter. The iron ore shipments in the given quarter amounted to 2.74 million mt, falling 11 percent quarter on quarter.
According to Arrium, market prices fell to 10 year lows at $47/mt in early April before improving through May and June. The improvement was supported by a reduction in Chinese port stocks which fell below 80 million mt for the first time in years.