A consortium of three Chinese companies signed a memorandum of understanding with Algerian National Iron and Steel Company on exploiting iron ore Tuesday in Algiers.

The steel bidding in April was delayed, and the price gradually dropped.

Mining giant BHP Group anticipates more growth opportunities in China thanks to the country's high-quality urbanization, a top company official said.

Adjusted year-to-date production through April 3, 2021 was 23,172,000 net tons, at a capability utilization rate of 77.0 percent.

Finished Import Market Share Estimated at 20 Percent in March.

As for Brazil, Vale's iron ore shipment to global destinations swelled for the second week by another 15,000 tonnes on week to 4.4 million tonnes.

Chinese steelmakers were not keen to chase export business last week, due to hot domestic sales and the uncertainties still hanging about whether the steel export tax rebates would be cut, industry sources said.

Therefore, the price disparity reached Yuan 748/t (based on CFR price*exchange rate + tariff + VAT Vs China's domestic price), up Yuan 123/t on week, some institutions calculated.