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.
Kumba Iron Ore is cutting production in South Africa as demand for its iron ore continues to fall. The Anglo American offshoot plans to reduce output at its Sishen mine by 28% from its previous target of 36 Mt for 2016.
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