According to China’s National Bureau of Statistics (NBS), in the January-November period this year, China’s iron ore production amounted to 889.046 million mt, decreasing by 0.5 percent year on year.
In November alone, China’s iron ore production reached 79.536 million mt, rising by 0.6 percent year on year, while up 9.4 percent month on month.
Import iron ore prices moved on an overall uptrend amid the prevailing improved sentiments among market players due to the easing of Covid-19 measures. In December, import iron ore prices have edged up further amid the increasing trend in iron ore futures prices. Amid the approaching Chinese New Year holiday, market participants thought steelmakers need to build up stock, which will bolster iron ore prices.
