Insight
Chinese iron ore mines closing, with even more to come
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Report summary
We estimate approximately 50 million tonnes of China's contestable iron ore supply has closed. While not an insignificant number, this is less than what the cost curve indicates should have closed. But with the typical lagged response to price, and more than half of China's contestable iron ore supply losing money at current prices, we anticipate an acceleration in closures ahead.
Table of contents
- Executive summary
- Contestable market
- 50 million tonnes of domestic capacity has closed
- Closures are less than what the cost curve indicates
- Non-cost factors are keeping state-owned mines open
- Little scope for further cost cutting
- Implications
Tables and charts
This report includes 4 images and tables including:
- Contestable market
- 62% Fe equivalent CFR cost curve to Tianjin, by country
- Region by region iron ore mine closure
- Full China cost cost capacity 62% Fe equivalent, by market
What's included
This report contains:
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