NBS: China's ROM iron ore output rises 7.1% YoY in 2023
ROM iron ore output at the country's major production bases was higher on year last year, the NBS data showed, with output at mines in Northeast China's Liaoning for example, jumping by 10.1% from 2022 to 171.2 million tonnes, the largest gain among all major mining areas.
Also, Hebei province in North China, the country's largest ROM production hub, produced 439.3 million tonnes of ROM iron ore in 2023, up by 9.7% on year.
In fact, local authorities in Tangshan city in Hebei had given approval for some mining companies to gradually resume their iron ore mining operations from last August, as reported. Previously, most miners in the city had halted operations for safety inspections after a fatal accident had taken place in Tangshan's Qianxi County in September 2022.
Nevertheless, most miners in Daixian County in North China's Shanxi have yet to restart mining, due to the stringent inspections being undertaken following a mining accident that occurred there also in September 2022, Mysteel Global noted.
As a result, Shanxi's ROM iron ore output of nearly 45 million tonnes in 2023 was 12.2% lower than the prior year's volume, the NBS numbers show.
Overall, the enthusiasm of Chinese iron ore miners for production improved substantially in the second half of 2023, reflecting the firm iron ore demand from domestic steelmakers and the higher prices that domestic iron ore was fetching, Mysteel Global noted.
For example, the offering price of 65% Fe grade concs in Tangshan under Mysteel's assessment reached Yuan 1,279/dmt ($177.8/dmt) on December 29 2023, rising by Yuan 247/dmt than a year earlier.
Meanwhile, Mysteel's tracking of domestic iron ore output matched the trend in the NBS result, with the 433 Chinese mining companies under Mysteel's monthly survey producing 288.3 million tonnes of iron ore concentrates last calendar year, for an on-year rise of 4.1%.
Written by Lea Li, liye@mysteel.com
Edited by Russ McCulloch, russ.mcculloch@mysteel.com
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