According to the statement by the China Iron and Steel Association (CISA), Brazilian miner and iron ore producer Vale’s iron ore shipments to China are expected to increase in the current year compared with 2019 as demand from other countries affected by the coronavirus pandemic is decreasing.
Vale has informed the CISA that it has not been affected by the coronavirus outbreak and it will maintain its operations as usual. The company also said that it has not changed its production target for this year. The CISA stated that demand from other countries except for China has decreased.
China has increased its steel production amid government stimulus measures, while steel mills operating in other countries have halted their blast furnaces in response to slack demand, SteelOrbis understands.
Vale shipped 190 million mt of iron ore and pellets to China in 2019.