Correction:
The molten ore output was 2.52 million tonnes per day in the Mysteel survey period, not the consumption. The imported iron ore consumption was 3.13 million t/d in total, which would require 93.9 million tonnes (not 75 million tonnes) consumption of imported fines, for the month of September, if continued. That makes more sense.
That was just a minor 19 million tonne per month error. Oooops.
Anyway:
In the near term, the Chinese market remains optimistic, and “both steel demand and prices are likely to revive from the hot summer when the weather cools in most regions in September,” she added.
So demand should pick up again from here.
Iron ore price, page-23463
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