In the January-May period this year, China’s iron ore production amounted to 457.352 million mt, increasing by 13.4 percent year on year, according to China’s National Bureau of Statistics (NBS).
In May alone, China’s iron ore production totaled 88.479 million mt, increasing by 9.0 percent year on year, while up 0.65 percent month on month.
Import iron ore prices fluctuated within a limited range in May, while they have moved on an overall downtrend in June. The highest price level in May at $122/mt was seen on May 22, while the lowest level of $114/mt was seen on May 15. The slack demand for steel during the traditional offseason in June will exert a negative impact on iron ore prices.