Benchmark 62% imported iron ore price decreased by $ 2.51 to $ 162.83 a tonne on Friday, based       on SteelHome consultancy data

Tangshan, China’s top steelmaking city, updated the differentiated restriction of steel output for emission cuts which will carry out from 20 March to 31 Dec 2021. Firms that either had not taken the steps spelled out under its emergency anti-pollution plan or had illegally discharged pollutants been included in the action.

          Affected by the action, mills have slowed down their iron ore procurements, resulting thin trading volume.

          The restriction of steel output this year would be more strict and more frequent in China, as the country set the goal to cut crude steel output, strive to peak carbon dioxide emissions by 2030 and achieve carbon neutrality by 2060.

---steelhome