IRON ORE DAILY: Strong steel production supports seaborne iron ore prices

摘要

Seaborne iron ore prices stayed above $90 per tonne on Thursday May 14, supported by improving production levels and decreasing steel inventories in China, sources told Fastmarkets. Steel production figures released by the China Iron and Steel Association (Cisa) continued to remain above 2 million tonnes per day for early May. Cisa said the production of crude steel at major mills in China reached 20.5 million tonnes in early May, up by 1.97% compared with late April. Meanwhile, the steel inventories at the major mills in China totaled 14.7 million tonnes in early May, down by 0.45% compared with late April.