China: Crude ROM Production Picked Up in May'19
According to National Bureau of Statistics, China - world's largest consumer and importer of iron ore has witnessed rise in crude iron ore production for May'19. The production in May'19 recorded at 70.8 MnT, up 3% against 68.5 MnT in Apr'19.
As per NBS data, output increased because nearly all the main ore-producing regions nationwide increased their production including China's top three iron ore mining areas – North China’s Hebei province, Northeast China’s Liaoning province and Southeast China’s Sichuan province.
For CY19 (Jan-May'19), production recorded at 327.62 MnT as against 325.07 MnT in CY18 (Jan-May'18).
China iron ore & pellet imports up in May'19
China iron ore imports for May'19 recorded 4% rise to 83.75 MnT in against hitting 18 months low in Apr'19 at 80.77 MnT. The imports picked up amid falling inventory at Chinese ports. However, on yearly basis import volumes has dropped by 11% against 94.14 MnT in May'18.
Average global iron ore fines prices increased 6% M-o-M
Monthly average global iron ore fines (Fe 62%) prices in May'19 recorded at USD 99/MT, up USD 6/MT against USD 93/MT, CFR China in Apr'19.
source: SteelMint
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