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China’s iron ore imports drop by 8.9% in May m-o-m

According to data from China’s General Customs Administration, in May, this largest buyer of iron ore in the world imported 89.79 million tons of this raw material for steel production, 8.9% less than the previous month.

Iron ore shipments fell for the second month in a row, while supplies from major Australian and Brazilian producers were generally lower at this time of year due to issues such as weather impacts.

In addition, the rebound in the world economy has also meant a higher demand for the material used for steelmaking in other markets, as this is another important factor of less import from China.

However, in the first five months of the year, China imported 471.77 million tons of iron ore, 6% more than in the same period of 2020, according to official data.

Post time: Jun-15-2021