Last Updated: 5/21/2025 11:39:00 PM
Reportedly, China ’s local iron ore output reached 116.57 million tons in August, up by 1% from a month earlier, in spite of plummeted global iron ore. In August, China’ s crude steel output fell by 4.8% from July to 58.703 million tons due to weak steel demand. Nevertheless, the country’s imports of iron ore in August increased by 7.9% from a month earlier to reach 62.45 million tons. Market analyst said that buyers intend to buy from local market when iron ore prices is falling since the local delivery is fast and contains less risk.
Reportedly, China ’s local iron ore output reached 116.57 million tons in August, up by 1% from a month earlier, in spite of plummeted global iron ore.
In August, China’ s crude steel output fell by 4.8% from July to 58.703 million tons due to weak steel demand.
Nevertheless, the country’s imports of iron ore in August increased by 7.9% from a month earlier to reach 62.45 million tons.
Market analyst said that buyers intend to buy from local market when iron ore prices is falling since the local delivery is fast and contains less risk.
