According to China’s National Bureau of Statistics (NBS), in the January-October period this year China’s iron ore production amounted to 809.866 million mt, decreasing by 1.0 percent year on year.
In October alone, China’s iron ore production came to 72.675 million mt, decreasing by 10.7 percent year on year, while down 8.0 percent month on month.
Import iron ore prices moved on an overall downtrend amid decreasing iron ore futures prices and slack demand from steelmakers due to their shrinking profitability. However, import iron ore prices have moved up in November amid the continuous rising trend of iron ore futures prices. Market sentiment has improved amid the easing of the Covid-19 pandemic and the announcement of a stimulus policy for the real estate industry.
