According to China’s National Bureau of Statistics (NBS), in the January-July period this year, China’s iron ore production amounted to 572.318 million mt, decreasing by 3.3 percent year on year.
In July alone, China’s iron ore production reached 80.227 million mt, decreasing by 3.5 percent year on year, while down 18.7 percent month on month. In July, import iron ore prices first moved down due to the decreasing trend seen in iron ore futures prices at Dalian Commodity Exchange, while they bottomed up from mid-July as market players expected to see better demand in the near future, with the highest level during the month of $118/mt CFR being seen on July 28 and the lowest level of $95/mt CFR seen on July 21.