According to China’s National Bureau of Statistics (NBS), in November this year China’s iron ore production amounted to 79.245 million mt, increasing by 1.5 percent month on month, up 3.9 percent year on year, 0.7 percentage points lower than the year-on-year growth rate recorded in October. Import iron ore prices declined initially in November and recorded increases later in the month, moving down from $85/mt CFR to $78.21/mt CFR and then recovering to $87.5/mt CFR due to good demand. High Chinese crude steel output in the given month resulted in higher iron ore output in November.
In the January-November period of the current year, China produced 786.44 million mt of iron ore, rising by 6.3 percent year on year.
As previously reported by SteelOrbis, China imported 970.693 million mt of iron ore in the January-November period of the year, down 0.7 percent year on year.