China’s iron ore output down 3.8 percent in Sept amid weaker demand

Wednesday, 21 October 2020 14:13:53 (GMT+3)   |   Shanghai
       

According to China’s National Bureau of Statistics (NBS), in September of the current year China’s iron ore production amounted to 73.481 million mt, decreasing by 3.8 percent year on year, shifting from a year-on-year rise of 4.8 percent in August this year.

Import iron ore prices rose to their highest level in the given month at $130/mt CFR on September 3 and 14, though they edged down to their lowest level of $114/mt on September 23 due to weaker demand ahead of the long holiday. In October, import iron ore prices edged up first following the long holiday, while they declined later. 

In the first nine months of the current year, China produced 636.078 million mt of iron ore, up by 2.6 percent year on year, 0.9 percentage points slower than in the first eight months of the current year.

As previously reported by SteelOrbis, in the January-September period this year iron ore imports in China increased by 10.8 percent year on year to 868.462 million mt, with this year-on-year rise 0.2 percentage points slower than that recorded in the first eight months this year. 


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