Chinese steel mills use more local ore

摘要

Chinese steel production has been hovering around record levels for months, but iron ore imports are yet to follow suit. At the same time, the country is cranking up its own ore production, suggesting that more raw materials are being sourced domestically. Shipbroker Clarkson's monthly Dry Bulk Outlook report shows that Chinese iron ore imports remained level at around 50mt for the last four months, well down from January's 68.9mt. While ore imports dropped off, steel production reached a record level.