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.
ArcelorMittal is reducing the scale of its Liberian operations as a result of low iron ore prices and weaker than expected international demand. The company is currently producing 5 Mtpa, well below its target of 15 Mtpa for the end of 2015. This was partly the result of the Ebola outbreak in the region, but even after this was brought under control, the firm decided to shelve expansion plans, as a result of low prices. ArcelorMittal Liberia has now decided to cut output to 3 Mtpa, by operating
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