In the January-June period this year, China’s iron ore production amounted to 554.101 million mt, increasing by 13.2 percent year on year, according to China’s National Bureau of Statistics (NBS).
In June alone, China’s iron ore production totaled 96.617 million mt, increasing by 9.9 percent year on year, while up 9.2 percent month on month.
Import iron ore prices saw a downtrend during most of June, while they edged up from June 24 until July 4. The highest level of $115/mt was seen on June 1-2, while the lowest level of $102/mt was recorded on June 24. The poor performance of steel prices due to the hot weather and heavy rainfall in June negatively affected iron ore prices.