CONF: China iron ore supply to be abundant in 2021

China’s iron ore supply is expected to be abundant, as demand will decline with Beijing’s steel output cut while supply may incline among the overseas miners, Wang Yingsheng, deputy secretary general of China Iron and Steel Association (CISA), shared on March 25 at the 2021 International Iron Ore Market Seminar in Qingdao, East China’s Shandong province.

In late January, Beijing vowed to bring down crude steel output on year for 2021 while the country’s steel production grew 12.9% on year to 175 million tonnes over January-February. “For the remaining nine months of 2021, we will have to lose the 30 million tonnes at least that we