NEWS
IRON and STEEL   Customs  

China Iron Ore Imports Fall 7% in Oct'19 on Dull Demand

According to General Administration of Customs, China - the world's largest iron ore consumer and importer recorded iron ore and pellet imports at 92.86 MnT in Oct’19. The imports witnessed 7% fall on monthly basis compared to 99.36 MnT in Sep’19. The decline in imports is attributed to falling demand amid increased production curbs and shrinking steel margins.

Chinese mills witnessed week long holidays (1st Oct to 7th Oct) leading to drop in imports. Also, China’s top steelmaking city of Tangshan issued second level pollution alert in Oct affecting production further. Besides, towards early Oct’19 mills in Tangshan were ordered to reduce sintering, pelletizing and blast furnace operations from Oct. 10 until Oct. 31.

Chinese iron ore imports for the month were also hindered by increased imports of semi-finished and finished steel products by Chinese mills from other countries.

As per data compiled by SteelHome consultancy, Iron ore inventory at major Chinese ports increased to 131.65 MnT towards Oct'19 end as against 129.95 MnT assessed towards beginning of the month.

However, on a yearly basis China's iron ore imports picked up by 5% as compared to Oct’18 imports at 88.4 MnT.

The total imports for Jan-Oct'19 witnessed at 877.2 MnT, down by around 14 MnT as against same duration previous year (Jan-Oct'18) at 891.5 MnT.

Average global iron ore fines prices down in Oct’19

Monthly average global iron ore fines (Fe 62%) decreased by 4% for the month of Oct’19 as compared to last month's prices. The prices recorded at USD 89/MT, CFR China in Oct against last month at USD 93/MT, CFR China. The spot iron ore fines (Fe 62%) have witnessed drop in past few months against USD 120/MT, CFR China assessed towards July’19.

News No: 7415
Date: 2019/11/08 - 13:27
News Source: SteelMint

China  Iron Ore  Customs  steel  Tangshan 

Comments:

Leave a Comment:

   
   
   
 

Sublance systems for Tangshan Reafon and Hegang Laoting

Danieli Corus has signed two contracts for total four sublance systems to be installed in China.
 

Rolling Mill Expansion at Steel Dynamics, USA

New billet welder and spooler line are producing spooled coils up to 5 tons, in endless mode, at Steel Dynamics, Columbia City, Indiana, USA.
 

Danieli to modernize the Algoma Steel Plate Mill in Ontario

Danieli, along with Danieli Automation and Danieli Taranis, are the supplier team chosen for a complete upgrade of the 166-in. wide plate mill of Algoma Steel in Sault Ste. Maire (ON), Canada.
 

Danieli to modernize the Algoma Steel Plate Mill in Ontario

The four-strand caster supplied by Danieli in 2007 to Ascoval Saint Saulve, France, for the production of 180 to 325 mm rounds, will be revamped by Danieli.
 

Rio spending $4 billion on iron ore pipeline amid China demand

Rio Tinto Group (ASX: RIO) lifted its spending on new iron ore projects in Australia to more than $4 billion with the approval of a replacement mine at a key hub, providing a further sign of the industry’s confidence in demand led by China.
 

Buying iron ore is getting more like shopping on Amazon

The world’s biggest iron ore miners are looking for novel ways of satisfying their customers and protecting market share in the $150 billion global industry.
Upcoming Events
Publications
 Mines & Metals

Mine & Business Today

 Scrap & Recycling

Ahangan

Our partners