On March 29, China Economic Information Service and Zhejiang Seaport Group officially released the Xinhua·Ningbo Zhoushan Port Iron Ore Price Index. According to the index, the estimated value of iron ore has moved upwards recently. However, the global iron ore supply is expected to be ample in 2023, and it is estimated that the index can hardly stand at a high level longer.
Zhoushan Port is the largest iron ore transit base in China. In 2022, 152 million mt of imported iron ore was unloaded at Zhoushan port, accounting for about 13% of China's total imports. Iron ore has a prominent trade advantage and is of great significance to the construction of an iron ore pricing system.
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