In the January-August period this year, China’s iron ore production amounted to 696.494 million mt, increasing by 4.1 percent year on year, according to China’s National Bureau of Statistics (NBS).
In August alone, China’s iron ore production totaled 73.637 million mt, decreasing by 16.0 percent year on year, while up 4.87 percent month on month.
Import iron ore prices indicated a downward trend first in August, while they rebounded from August 18. The highest level of $103/mt during the month was seen during August 2-5, while the lowest level of $91/mt was observed during August 16-18. The downtrend of steel prices during August 1-18 negatively affected the prices of iron ore, while their improved performance bolstered iron ore prices in late August.
