China’s iron ore imports down in Nov from Oct despite higher crude steel output

Monday, 09 December 2019 12:24:11 (GMT+3)   |   Shanghai
       

Iron ore imports in China decreased by 2.38 percent month on month to 90.652 million mt in November this year, as major miners shipped less. However, the import volume was up 5.1 percent year on year.

In the January-November period this year, China’s imports of iron ore and iron ore concentrate amounted to 970.693 million mt, down 0.7 percent year on year, though the decline rate slowed from the 1.6 percent fall in the January-October period.

In November, import iron ore prices for China declined first but moved up later in the month, decreasing from $85/mt CFR to $78.21 CFR but then rebounding to $87.5/mt CFR due to good demand amid high crude steel output in the given month. As of November 30, imported iron ore inventory at Chinese ports totaled 123 million mt, decreasing by 3.53 percent month on month.

Since demand will likely slacken in the coming cold winter offseason, iron ore prices are not expected to move up further but are foreseen to fluctuate within a limited range amid the sufficient supply in the iron ore market. 


Similar articles

Iron ore prices drop by over $9/mt week on week, mood remains bad

28 Mar | Scrap & Raw Materials

Goa government to ease policy for liquidating iron ore dumps lying on private land

28 Mar | Steel News

Major steel and raw material futures prices in China - March 28, 2024

28 Mar | Longs and Billet

CISA: Coking coal purchase cost in China down 9.86% in Jan-Feb

28 Mar | Steel News

Brazilian high-grade iron ore price declines sharply in two days

27 Mar | Scrap & Raw Materials

Daily iron ore prices CFR China - March 27, 2024

27 Mar | Scrap & Raw Materials

India’s JSPL takes operational charge of iron ore complex in Venezuela

27 Mar | Steel News

Major steel and raw material futures prices in China - March 27, 2024

27 Mar | Longs and Billet

Vale selected to begin award negotiations for US briquette plant

26 Mar | Steel News

Daily iron ore prices CFR China - March 26, 2024

26 Mar | Scrap & Raw Materials