China: Iron ore production up marginally in Jan-Sep'20

China - the world's largest consumer and importer of iron ore has recorded crude iron ore production at 636.7 mn t compared with CY19 (Jan-Sep) output at 626.4 mn t, according to the National Bureau of Statistics. The output picked up amid high Chinese demand.

However, for the month of Sep'20 the output recorded at 73.5 mn t, down 5% as against 77 mn t in Aug'20. The decline was due to degrade in ROM quality as per reports.

On the other hand, the Chinese imports of iron ore witnessed at 868 mn t for Jan-Sep'20, according to the General Administration of Customs. The imports picked up by 11% as against 785.7 mn t CPLY.

Monthly average iron ore prices up in Sep'20
Monthly average global iron ore fines (Fe 62%) increased to $124/t, CFR China in Sep'20 against that in last month at $122/t, CFR China.