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.
Rio Tinto Group, the world’s second largest iron ore exporter, estimates that China’s annual steel output will hit one billion tonnes, a rise of about a third, within the next two decades.
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