In the January-October period this year, China’s iron ore production amounted to 871.544 million mt, increasing by 2.8 percent year on year, according to China’s National Bureau of Statistics (NBS).
In October alone, China’s iron ore production totaled 86.448 million mt, decreasing by 4.1 percent year on year, while up 4.43 percent month on month.
Following China’s National Day holiday, import iron ore prices moved on an overall downtrend in October. The highest level of $108/mt during the month was seen during October 1-7, while the lowest level of $98/mt was observed on October 23. The decreasing trend in steel prices exerted a negative impact on the demand for iron ore and weakened the support for ore prices.
