Global iron ore shipments increased 3.8% Y/Y, according to BIMCO
NewsGlobal iron ore shipments rose in Q1 2024 but with Chinese steel production weaker than expected, future shipments may decline due to oversupply.
Maersk Broker has forecast that China’s iron ore imports will grow 7% this year to 670 mt, compensating for weaker European and Japanese demand. It will take the global seaborne iron ore trade to 1.02 bt, passing the 1 bt milestone for the first time, it said.
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