Russian Iron Ore Market

摘要

An inevitable drop in domestic consumption of iron ore will force suppliers to redirect more and more spare tonnages to export markets this year. Meanwhile, China remains the most promising outlet amid the slowdown of other global economies. In H1, Russian iron ore exports to the country increased 2.5-fold y-o-y to almost 6.7 million t (of?which 1.86 million t was concentrate from Kimkano-Sutarsky and Bystrinsky GOKs;;1.82 million t – concentrate from Kovdorsky GOK;;2.3 million t – pellets from MGOK). The fact that the launch of the railway bridge over the Amur River was postponed to Q3 2021 will restrain exports to China as the existing border points are overloaded.