Iron ore price jumps to year high as Chinese imports soar

Iron ore prices were hitting one-year highs on Tuesday as the economic recovery in China, where more than half the world’s steel is forged, surpasses even the most bullish expectations.

According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China were changing hands for $112.48 a tonne on Tuesday, up 22% since the start of the year.

China’s iron ore imports jumped 17% in June from the May total to hit the highest level since October 2017, according to customs data released overnight. 

Cargoes of the steelmaking ingredient totalled 101.7m tonnes last month compared to just over 87m tonnes in May, and up 35% from June 2019. For the first six months of 2020 shipments reached 547m tonnes, up 9.6% compared to 2019. 

At the current pace, 2020 full year total would handily beat last year’s 1.069 billion tonnes, which was just below 2017’s record 1.075 billion tonnes.

In a note, BMO Capital Markets estimates that China accounted for over 75% of global seaborne iron ore imports during the second quarter of this year.

BMO said when coupled with resilient domestic production of commodities, the robust import numbers “point to extremely strong Chinese apparent demand figures in June”:

Given ex-China weakness, we see potential for China to have been 60-70% of global metals demand in June – never before have we seen one country so dominant, though with ex-China recovery we expect this trend to reverse in Q3.

What is jaw crusher wear parts?

Jaw crusher working principle is based on the reciprocating movement of the movable jaw plate that compresses and crushes the stone or ore between itself and the fixed jaw plate, as the material enters the zone between the jaws. The fixed jaw plate, movable jaw plate, toggle plates, and cheek plates are called jaw crusher wear parts.

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Because the jaw crusher wear parts need to crush hard stones or ores, most of those wear parts are made by high wear-resistance steel. The standard material of jaw crusher liners is manganese steel. However, different working conditions need different grade manganese steel to suit. The key that chooses the right supplier is to select the right manganese steel casting foundry.

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Wear Parts For Brands Jaw Crushers

Downtime is costly, this is the reason why we work hard to make sure you receive your replacement jaws quickly. We never compromise on quality, because it’s important to us that our customers are able to get back to work in the shortest time possible. H&G Machinery had stocked large number of brands crusher wear parts, and also we have thousand of brands jaw crusher replacement parts wood models.

@Nick Sun       NICK@XZHUAGANG.COM