Shougang’s Strike Matters For Peru, But Not For China — Panjiva


Shougang’s Strike Matters For Peru, But Not For China

China 1761 Materials - Metals/Mining 483 Metals - Steel 361 Peru 34 Strikes 25

Iron ore miner Shougang has declared force majeure on deliveries from its Peruvian mine at Marcona due to an indefinite strike. Shougang accounted for all the country’s $464 million iron ore exports in the 12 months to September 30, with 98% of that headed to China. Yet, with Peru only having accounted for 1.1% of Chinese imports (Australia led at 60.9%) there’s unlikely to be significant consequences for the Chinese steel industry in general.

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