According to Chinese customs, in the first half of this year China imported 309 million mt of iron ore. In April, the import volume of iron ore was 55.33 million mt, decreasing by 2.94 percent year on year. In May, the import volume slipped by six percent from April to 51.9 million mt, registering a year-on-year decrease of 2.92 percent. In June, the import volume decreased further to 47.17 million mt, indicating an increased year-on-year decline rate of 14.72 percent.
The decreases in China's iron ore imports in the above three consecutive months in the second quarter of this year are mainly attributable to the increased domestic ore production as well as to the relatively lower demand for iron ore in China. In the first half year, China's crude steel output was 323 million mt, rising by 27.9 percent year on year, but 12 percent lower than in 2008 - indicating that the domestic steel market has not yet recovered completely. For this reason, demand for iron ore in China is still at a relatively low level. In addition, in the first six months of this year, China's total domestic iron ore output was 485 million mt, up 28 percent year on year. As noted by the vice president of the China Iron and Steel Association (CISA), Luo Bingsheng, the increase in domestic iron ore output signifies reduced dependence on imported supplies.