China’s iron ore output up 0.7 percent in October

Thursday, 19 November 2020 13:53:17 (GMT+3)   |   Shanghai
       

According to China’s National Bureau of Statistics (NBS), in October of the current year China’s iron ore production amounted to 78.421 million mt, increasing by 0.7 percent year on year, shifting from the year-on-year decrease of 3.8 percent recorded in September this year.

Import iron ore prices rose to their highest level in the given month to $125/mt CFR on October 9-11 amid stock replenishment by steelmakers following the long National Day holiday, though they declined to their lowest level during the month on October 26 to $114/mt. In November, import iron ore prices moved up again amid the prevailing bullish sentiments among market players and the rising trend in finished steel prices.

In the first ten months of the current year, China produced 714.506 million mt of iron ore, up by 1.9 percent year on year.


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