· Iron ore futures tumbled on the news, with the most active contract on the Dalian Commodity Exchange down 9 per cent to $173 a tonne. In the physical market, where miners and steel mills buy and
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· Adds backgrounds and details throughout BEIJING, March 7 (Reuters)-China's iron ore imports in the first two months of 2024 climbed 8.1% from the previous year, customs data showed on Thursday
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· Meanwhile, the average annual growth rate of imported iron ore was 20%. The growth rate of imports was obviously higher than that of self-produced ore. Since 2000, China’s iron ore imports, except a slight decrease in 2010, 2012 and 2015, increased substantially, the annual import grew twice over 35%.
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· The 23% fall in prices from recent high adds to concern over strength of China’s economic recovery Chinese iron ore prices dropped to their lowest levels in five months, as weak demand adds to
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· READ LATER. India’s iron ore exports took a near 85 per cent hit in July, year-on-year, to about 0.50 million tonnes (mt); following lower buying from China and post levy of export duty. Exports
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· In 2012 –2014, the growth rate of output of domestic iron ore decreased rapidly, and. the output of in 2014 was 151,000 tons, an increase of 3.9%, although it slightly increased in. 2016. In the
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· But, customs data show that in the first seven months of 2022 China's iron ore arrivals were 626.8 million tonnes, which is down 3.4% on the same period last year. China iron ore imports vs spot price
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· Spot 62% iron ore for delivery to north China , as assessed by commodity price reporting agency Argus, ended at $116.05 a tonne on June 24, down 4.8% from the week before. The benchmark price has
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· The spot price of benchmark 62% iron ore for delivery to north China , as assessed by commodity price reporting agency Argus, rose to $128.80 a tonne on Monday, just shy of the peak so far in 2023
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· China plans to raise the share of overseas iron ore production from 120 million tonnes in 2020 to 220 million tonnes by 2025. The plan, which the steel body said in January it had submitted to the
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· Compared to July 2022, the volume of iron ore imports increased by 2.5%. The average cost of imports in July was $104.9/t, which is 1.7% less compared to June. In January-July, the country increased its iron ore import by 6.9% compared to the same period last year – up to 669.4 million tons.
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BHP logs record iron ore output, expects China to be 'stabilizing' force. 2023 demand to have help from Beijing's pro-growth measures, company says. A bucket wheel reclaimer collects iron ore at a
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· China's iron ore imports from Australia in 2021 fell 2.7% from 2020, but Australia still accounted for more than 60% of China's total imports in 2021, according to China's customs data. An industry observer in a recent local
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BEIJING, Aug 8 (Reuters)-China's imports of iron ore in July slipped 2% from the previous month, customs data showed on Tuesday, as sintering curbs in major steel production
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· Over the medium term, China has set the goal of significantly increasing its iron ore self-sufficiency. In the 2021-25 Raw Material Development Plan, it set out plans to increase domestic mining and raising the use of scrap steel. Until this goal is achieved, China remains heavily dependent on imports, with 60% of shipments coming from Australia.
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· The physical iron ore price hit $188 a tonne on Monday, down from a record high of $233 earlier this month, according to a price assessment from S&P Global Platts. The steelmaking commodity is a
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· China bought 1.1 billion tonnes of iron ore in 2022, worth $128 billion, according to customs data. It relies on imports for 80% of its consumption. "Our cooperation with the CMRG is constructive
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· China, which buys about 75% of global seaborne iron ore, imported 102.3 million metric tons in May, according to customs data, marking a third straight month of arrivals of more than 100
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· China consumes more iron ore than any other nation and is the world’s biggest steel producer. Output in July rose 6.4 per cent year-on-year and 6 per cent in August after three months of
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· In the meantime, China's appetite for iron ore imports is likely to remain locked within the fairly tight band of 90 million to 103 million metric tonnes per month, which has persisted since July
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· China's imports of iron ore in August climbed 13.8% from July, customs data showed on Thursday, fuelled by growing demand from steel mills ramping up production ahead of the peak construction months.
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· China produced 88.48 million tonnes of run-of-mine (ROM) iron ore in May, growing by a small 0.7% on month after the on-month drop of 10.4% recorded in April, Mysteel Global learned from new data released by the country's National Bureau of Statistics (NBS). Meanwhile, the volume also logged a 14%.
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· China’s iron ore imports in 2021 and 2022 fell 3.9% and 1.5% year-on-year, respectively. There were no such caps on steel output in 2023, however, with the world’s second-largest economy struggling to recover from the Covid-era in part because of lingering property woes.
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· Inventories of iron ore at Chinese ports increased for the sixth consecutive week to 113.3mn tonnes as of July 24. The upward trend came after the iron ore inventories hit a four-year low of 105.6mn in mid-June after the Chinese government eased the restrictions, imposed to cope with the COVID-19 spread. However, driven by the
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BEIJING, April 12 (Reuters)-China's iron ore imports in March rose about 0.5% from a year earlier, customs data showed on Friday, amid expectations that demand will pick up after the Lunar New
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· One of the factors that has changed in the first quarter is that China's portside inventories of the key raw material used to make steel have risen sharply. Iron ore stockpiles, as monitored by
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· Simandou offers a potentially huge new source of supply for Rio, the world’s largest iron ore producer, while China sees the project as key to easing its steel industry’s dependence on
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· China Mineral Resources Group was established July 19 in Xiongan -- President Xi Jinping’s greenfield city in Hebei province -- with a registered capital of 20 billion yuan ($3 billion).
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· China's increased participation in the global market for iron ore has had tremendous impacts of various kinds. The ore has changed routes and destinations. In 2010, China had reached a point at which it alone accounted for over 50 % of the global trade of iron ore. These large changes are unavoidably mirrored in the price that rose
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