IRON and STEEL   Iron Ore  

China: Iron Ore & Pellet Imports Rebound in May'19

According to General Administration of Customs, China - the world's largest iron ore consumer and importer, recorded 4% rise in iron ore imports to 83.75 MnT in May'19 against hitting 18 months low in Apr'19 at 80.77 MnT.

However, on yearly basis import volumes has dropped by 11% against 94.14 MnT in May'18.

The total imports for the CY19 (Jan-May'19) witnessed at 425.28 MnT, down 5% as compared to 447.43 MnT in CY18 (Jan-May'18).

Why did iron ore imports picked up in May'19?

Fall in iron ore inventory at Chinese Ports:

As per SteelHome consultancy, Iron ore inventory at major Chinese port fell to 124.9 MnT towards May'19 end, level last seen in Feb'17 as against 133.6 MnT towards beginning of May'19. The inventory fell to 121.6 MnT last weekend, depicting steady fall against this year peak levels of about 150 MnT observed in early Apr'19. Amid low stock in China, mills continue buying expensive material to continue full-load operation.

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. Towards last week of May'19, iron ore supply crises led China spot iron ore prices reach USD 108/MT, hovering around five years high and Dalian iron ore hit record high levels on 27th May'19 to 758.5 yuan/MT, highest since its launch in 2013.

News No: 4809
Date: 2019/06/11 - 22:16
News Source: SteelMint

China  Iron Ore  Pellet  CFR 


Leave a Comment:


SE Asia: Billet Market Remains Silent Amid Less Trades

This was another dull week for global billet market. This week, market was observed exactly in the similar tone with the expectations. The dullness intensity of the global billet market escalated this week, even the Eid festivity did not brought any boon to the market.

What Happened in China’s Graphite Electrodes Market this Week?

The Chinese graphite electrodes prices especially that of UHP grade continues to remain stable this week. The current prices in China of UHP grade GE of size 450mm are heard to be in the range of RMB 24,000 – 26,000/MT (USD 3,470 – 3,760/MT) whereas that of size 600mm are in the range of RMB 48,000 – 60,000/MT (USD 6,940 – 8,675/MT).

Chinese Crude Steel Output Hits Record High in May’19

As per the recent data released by NBS (National Bureau of Statistics), Chinese crude steel output records new high in May’19 at 89.09 MnT.

What does June 2019 have in Store for Global Steel Market?

The two key raw material for steel production, Iron Ore and Scrap prices are moving in opposite directions. The Vale disaster at the Brumadinho tailing dam in late January this year has led to a cut in iron ore supplies, and a spike in spot prices making them to hit five years high, leaving no margins for blast furnaces.

Imported HRC Offers to Bangladesh Decline Sharply Following Global Downtrend

In the latest conversation with market sources based in Bangladesh, SteelMint analyzed that imported HRC offers to Bangladesh from China witnessed significant decline by USD 20-25/MT in last couple of weeks. Bangladesh market has opened this week after Eid holidays.

Analysts say Vale execs optimistic about recovery of output at Brucutu mine

Brazil’s Vale which needs court approval to resume production at its Brucutu mine after a deadly dam collapse, told analysts it expects to do so soon, analysts at brokerage XP said on Thursday after meeting with the miner’s top executives.
Upcoming Events
 Mines & Metals

Mine & Business Today

 Scrap & Recycling


Our partners