Prices for import iron ore have lost more than $5/mt today, Friday, March 12, as production and emissions violations have been found as some steel mills in Tangshan and the government will check all plants in Tangshan.
Iron ore with 62 percent Fe has fallen by $5.3/mt today to $165.1/mt CFR, while ex-Brazil fines with 65 percent Fe have been at $190.8/mt CFR, down by $3.7/mt from yesterday. Trading activity has been poor today.
Steel production will be more controlled in Tangshan in the near future as the Ministry of Ecology and Environment will take measures against mills that broke emissions restriction rules and that were producing steel at high rates, falsifying production records. The production in other parts of China is unlikely to be impacted.