China: Crude ROM Production Climbs Marginally in July’19

According to National Bureau of Statistics, China - world's largest consumer and importer of iron ore has witnessed slight rise in crude iron ore production for July’19.

The production recorded rise to 74 MnT, as against 73.1 MnT in June'19. As per NBS data, the increase is attributed to production rise in North China’s Hebei province. During the month, ROM output in Hebei province increased 4% (i.e 1.1 MnT) to 25.8 MnT.

On yearly basis, production increased 14% as compared to 64.76 MnT in July’18. For CY19 (Jan-July), crude iron ore production recorded at 474.72 MnT, up 4% as against 455.33 MnT in CY18 (Jan-July).

China iron ore & pellet imports up in July’19

China iron ore imports recorded 21% to 91.02 MnT in July'19 against June’19 imports at 75.18 MnT. The imports rebounded for the month against hitting lowest level in June’19 since Feb’16. The imports picked up amidst easing supply from major miners. Vale- announced resumption at its Brucutu mines and also resumed partial operation at its Vargem Grande Complex in July’19.

Average global iron ore fines prices increased on monthly basis

Monthly average global iron ore fines (Fe 62%) index price witnessed hike to USD 120/MT, CFR China in July’19 as against USD 108/MT, CFR China in June’19. The prices for the month were hovering five years high levels at USD 126/MT, CFR China towards early July.