South Africa's Kumba Iron Ore, belonging to Anglo American Plc, announced that its output in the first quarter went up by 14% to 9.4 million tons. In addition, it kept production and sales forecast in 2023 between 35 million to 37 million tons, and in the rage from 37 million tons to 39 million tons, respectively.

Kumba indicated that the improved demand from China offset the slowdown market in other countries. Also, the demand outlook for its high-quality iron ore products was optimistic due to the development of the global energy transition.