China: Crude Iron Ore Production Declines 6% in Jan-Feb'20 due to COVID-19 Outbreak

According to the National Bureau of Statistics, China - the world's largest consumer and importer of iron ore has recorded crude iron ore production at 111.19 MnT in CY20 (Jan-Feb'20), down 6% as against 118.54 MnT in CY19 (Jan-Feb'19). The fall in production is attributed to the weeklong New Year Holidays which started from 24th Jan'20 followed by Coronavirus outbreak.

As per Mysteel, Qian'an and Qianxi were among three cities requested by Tangshan to ensure that most iron ore miners and individual beneficiation plants to suspend operations starting February 13 as part of enhanced efforts to fight COVID-19, as Mysteel Global reported. However, Companies in the third city, Zunhua, had resumed work since February 22.

China iron ore and pellet imports up in Jan-Feb'20

China recorded iron ore and pellet imports at 176.8 MnT for Jan-Feb '20. The imports witnessed a slight rise to 1.5% as compared to 174.3 MnT in Jan-Feb '19.

Average global iron ore fines prices moved down in Feb'20

Monthly average global iron ore fines (Fe 62%) price moved down by 7% to USD 86.5/MT, CFR China in Feb'20 against USD 92.63/MT, CFR China in Jan' 20.