China: Crude Iron Ore Production Down 4% in Jan-Feb'19
According to National Bureau of Statistics, China - world's largest consumer and importer of iron ore has witnessed fall in crude iron ore production for Jan-Feb'19.
The production in CY19 (Jan-Feb'19) recorded at 118.54 MnT, down 4% against 123.46 MnT in same period last year (Jan-Feb'18).The drop is owing to less working days owing to week long Lunar new year holidays in Feb at China.
Average global iron ore fines prices up in Feb'19 due to Vale mishap
Monthly average global iron ore fines (Fe 62%) prices increased 16% to USD 88/MT, CFR China in Feb'19 compared to USD 76/MT, CFR China in Jan'19.
The Vale dam disaster followed by a series of halt at various dam and mines owned by Vale led to global shortage of material resulting in sharp rise in ore prices. Vale is expected to lose around 64 MnT of fines output in 2019, as per BMO Capital Markets.
China iron ore imports down 9% in Feb'19
China recorded iron ore imports at 83.08 MnT in Feb'19. The imports have dropped 9% M-o-M as against 91.26 MnT in Jan'19. Chinese imports for the month hit 10 months low since Apr'18 imports at 82.92 MnT. For Jan-Feb'19, the imports reached at 174.4 MnT down 6% as against 184.61 MnT in Jan-Feb'18.
source: SteelMint
Top News
Glencore in talks to sell Philippine copper smelting unit
Rasul Khalife Soltani, Secretary of the Iranian Steel Producers Association on the sidelines of the 1403 Steel Symposium:
Mobarakeh steel is producing green steel through scrap recycling
Norilsk Nickel plans to sell all it produces in 2025
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
India’s record gold import said to be due to calculation error
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Norge Mining acquires Europe’s largest natural graphite producer
Mercuria partners with Zambia on metals trading venture
Aluminum price falls to one-month low in wider commodity slump
Lure of Anglo’s copper mines could test BHP’s spending resolve
Copper giant Peru foresees another production plateau in 2025
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Mercuria partners with Zambia on metals trading venture
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Lure of Anglo’s copper mines could test BHP’s spending resolve
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Glencore in talks to sell Philippine copper smelting unit
