China’s iron ore output down 3.6 percent in November

Monday, 21 December 2020 11:55:21 (GMT+3)   |   Shanghai
       

According to China’s National Bureau of Statistics (NBS), in November of the current year China’s iron ore production amounted to 75.212 million mt, decreasing by 3.6 percent year on year, shifting from a year-on-year increase of 0.7 percent recorded in October this year. Though the market was positive and prices were on the rise, miners faced restrictions and had to adjust production.

Import iron ore prices moved on an overall rising trend and rose to their highest level in the given month of $132/mt CFR on November 30 amid surging iron ore futures prices and rising steel prices. In December, import iron ore prices have continued their increasing trend amid the rising trend in finished steel prices and surging iron ore futures prices.

In the first 11 months of the current year, China produced 789.227 million mt of iron ore, up by 2.1 percent year on year.

As previously reported by SteelOrbis, in the January-November period this year iron ore imports in China increased by 10.9 percent year on year to 1.07335 billion mt, with this year-on-year rise 0.2 percentage points slower than that recorded in the first ten months this year. 


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