China’s iron ore imports down 9% YoY in Jan

Iron ore prices have continued to decline recently. Iron ore futures touched limit down in the morning market. The most-traded 2201 contracts created a record low of 565.5 yuan/mt, weakening the ferrous metals prices.

The Tangshan Municipal Bureau of Ecology and Environment held a meeting on May 23, which includes in-depth governance of steel enterprises, capacity replacement, total emission reduction, and transformation and upgrading.

A total of 75 vessels carrying 9.91 million mt of iron ore arrived at major Chinese ports during April 18-24, SMM estimates. This was down 2.4 million mt from the previous week and 1.3 million mt from the same period last year.

Ten ASEAN countries, China, Japan, South Korea, Australia and New Zealand signed the world’s largest trade agreement, the Regional Comprehensive Economic Partnership or RCEP, on November 15. The signing of RCEP is an important step for Asia-Pacific countries to uphold multilateral trading system and build an open world economy.

Operating rates at domestic iron ore mines in October rose 0.7 percentage point from September, with operating rates at private mines 0.4 percentage point higher and 1.1 percentage points higher at state-owned mines.

The 2020-21 winter production restrictions have been issued in the Beijing-Tianjin-Hebei Region, Tangshan and Yangtze River Delta, but this was met with subdued impact from the iron ore market, as the disruption on blast furnace operation is limited.

The iron ore market may continue to face supply pressure in the medium-to-long term. Mining company BHP said on Tuesday that it plans to expand its iron ore export capacity from Australia's Port Hedland shipping hub, by as much as 14% to 330 million mt/year. Its forecast shipments for 2020 stand at 273-286 million mt. 

This came after two consecutive months of declines

China exported 197,100 mt of aluminium sheet, plate and strip in Sep

China imported 6.75 million mt of bauxite in Sep, down 21.86% month on month and 2.08% year on year