According to China’s National Bureau of Statistics (NBS), in August, iron ore production in China reached 83.915 million mt, up 5.6 percent year on year, while up 5.0 percent month on month.
In the January-August period of the current year, China’s iron ore production amounted to 658.36 million mt, increasing by 14.2 percent year on year, 0.3 percentage points slower than that recorded in the first seven months this year.
Import iron ore prices moved on an overall declining trend in August, with the highest level of $183/mt CFR being seen on August 3, while hitting the lowest level of $129/mt CFR on August 19, and this decreasing trend continued in September amid the central government’s target to reduce the crude steel output.
As previously reported by SteelOrbis, iron ore imports in China decreased by 1.7 percent year on year, reaching 746 million mt in the January-August period of the year, while in August alone, China imported 97.49 million mt of iron ore, down 2.86 percent year on year.