GlobalData: COVID-19’s initial impact to reduce China’s iron ore output by 3% in 2020

GLOBAL MINING REVIEW | China’s iron ore production is forecast to decline by 3% to 78.2 Mt in 2020 due to the impact of COVID-19. Between January and February, the operating rates at private iron ore mines declined from 34.9% to 29.6% and overall, China’s iron ore production declined by 4.6% y/y, according to GlobalData.

Several mines and plants had to temporarily cease the production activities. The deliveries and shipments were either delayed or rescheduled, and there was a shortage of workers, who could not return to mine sites owing to the prolonged Lunar new year holidays, followed by the transportation issues due to lockdown.

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