Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » COVID-19’s initial impact to reduce China’s iron ore output by 3% in 2020

    COVID-19’s initial impact to reduce China’s iron ore output by 3% in 2020

    April 13, 2020
    Share
    Facebook Twitter LinkedIn WhatsApp

    Lagos — China’s iron ore production is forecast to decline by 3% to 78.2 Mt in 2020 due to the impact of Covid-19. Between January and February, the operating rates at private iron ore mines declined from 34.9% to 29.6% and overall, China’s iron ore production declined by 4.6% year-on-year, says GlobalData, a leading data and analytics company.

    Several mines and plants had to temporarily cease the production activities. The deliveries and shipments were either delayed or rescheduled, and there was a shortage of workers, who could not return to mine sites owing to the prolonged Lunar new year holidays, followed by the transportation issues due to lockdown.

    Vinneth Bajaj, Senior Mining Analyst at GlobalData, says: “As a result of the slowdown in the domestic production, iron ore imports grew by 1.5% year-on-year in January and February 2020 to reach 176.8 Mt. However, purchases accumulated at ports due to transportation challenges, owing to the lockdown and inventory at ports had reached a three-month high of 131.1 Mt by 7 February 2020.”
    GlobalData forecasts the iron ore production in China to grow at a compound annual growth rate (CAGR) of 1.1% between 2020 and 2024 to reach 81.6 Mt.

    Bajaj concludes: “The growth will be relatively flat due to the elimination of inefficient steel capacity, as part of the three-year ‘Blue Sky’ environmental initiative, which runs from 2018 to 2020. This initiative is driving domestic steelmakers to utilise high-grade iron ore (Fe 58-62%), which principally originates from Australia and Brazil.

    Follow us on twitter

    Related News

    ‘Ghana has lost $11bn to gold smuggling, links to UAE’

    Glencore halted some cobalt deliveries over Congo export ban

    Nigeria sends mining scholars to Australia for training

    E-book
    Resilience Exhibition

    Latest News

    Russian energy, transport, finance companies among privatisation candidates, says finance ministry

    June 21, 2025

    Kazakhstan’s oil and condensate daily output set to rise by 6% in June, ministry says

    June 21, 2025

    Italy’s Eni eyes new unit to manage oil refineries, unions say

    June 21, 2025

    Libya objects to Greek tender for hydrocarbon exploration off Crete

    June 21, 2025

    Russia’s Rosatom to explore construction of high-capacity nuclear plant in Uzbekistan

    June 21, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.