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The freighter Shinas Max carrying 400,000 tons of iron ore is berthed at Zhoushan Port in China39;s Zhejiang Province. China currently relies on Australia for more than 60% of its iron ore imports.
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Potential for an iron ore surplus from 2020 and the prospect of continued slowing in Chinas economy mean RBC was cautious about the market over the medium and long term, he said.
The most traded May iron ore contract on Chinas Dalian Commodity Exchange touched $163.11 a tonne and has fallen 6% this week. Chinas Ministry of Ecology and Environment has urged the ...
The China steel and iron ore market narrative for 2021 was supposed to be pollution led curbs on steel output, coupled with rising iron ore supply, leading to lower prices.