en.Wedoany.com Reported - From January to May this year, China's cumulative crude iron ore output reached 397.1 million tonnes, down 3.5% year on year. This data from the National Bureau of Statistics (NBS) shows a further widening of the cumulative decline compared to the 1% drop in the first four months, mainly due to a significant decrease in May production.

In May alone, China's crude iron ore output plummeted 13.5% year on year to 74.2 million tonnes, and also fell 8.7% month on month. By region, Hebei Province, China's largest iron ore producing area, saw its crude ore output plunge 18.8% year on year to 30.5 million tonnes in May. Liaoning Province followed with an output of 13.2 million tonnes, down 12.4% year on year.

The decline in iron ore output reflects increased maintenance shutdowns at domestic mining operations, a trend that has subsequently curbed concentrate production. According to a Mysteel survey, the total iron ore concentrate output of the 433 domestic mining companies it regularly tracks was about 22 million tonnes in May, down 8.8% year on year and 0.7% month on month.

Despite the reduced domestic concentrate supply, downstream demand remained robust in May. With relatively decent profit margins, steel mills maintained high operating rates, boosting miners' confidence to raise quotes. Taking Tangshan City in Hebei Province as an example, the average price of 66% Fe iron ore concentrate in May was assessed by Mysteel at 983 yuan/dmt (approximately $145/dmt), including 13% VAT, up 1.3% month on month and 5.6% year on year.

This article is compiled by Wedoany. All AI citations must indicate the source as "Wedoany". If there is any infringement or other issues, please notify us promptly, and we will modify or delete it accordingly. Email: news@wedoany.com