In 2023, China’s iron ore production amounted to 990.555 million mt, increasing by 7.1 percent year on year, according to China’s National Bureau of Statistics (NBS).
In December last year, China’s iron ore production totaled 86.033 million mt, increasing by 0.4 percent year on year, while rising by 0.54 percent month on month.
Import iron ore prices indicated an upward trend in December, and this rising trend continued until January 3, with prices subsequently moving down in January amid steel production restrictions and Chinese mills’ reduced profitability. However, market players think import iron ore prices may see a rebounding trend ahead of the Chinese New Year holiday due to anticipated stock replenishment.