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CISA: Little Impact on Iron Ore Supply-demand after Decreased Shipments from Giant

https://en.steelhome.com [SteelHome] 2020-02-24 18:13:30

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On February 22, 2020, China Iron and Steel Association (CISA) introduced the current China steel market at the public information conference via video. Luo Tiejun, Vice Chairman of CISA, presided over the conference and answered questions with interested media.

Q: What caused decreased iron ore shipments from global mines? And impacts following?

A: Due to the destructive winds in Australia and heavy rainfalls in Brazil, the shipment dropped. So far, Rio Tinto announced that Pilbara iron ore shipments in 2020 are now expected to be between 324 million tonnes and 334 million tonnes (100 per cent basis) versus previous guidance of between 330 million tonnes and 343 million tonnes. Meanwhile, some had reported that iron ore shipments from Vale also decreased in January 2020. Taking production cuts from Rio Tinto as an example, the affected pig iron output would be around 10,000-15,000 tons per day. Due to the outbreak of COVID-19, on Feb 21, 73 blast furnaces of 47 steel plants halted production or took equipment maintenance, which affected 210,000 tons of molten iron output per day. Thus, decreased iron ore shipments has little impact on recent supply and demand at iron ore market.


(To contact the reporter on this story: cody.wang@steelhome.cn or 86-555-2238837 18725550282)
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