Inner Mongolia’s iron ore imports double in value in H1

Friday, 23 July 2010 13:38:46 (GMT+2)

According to the local customs authorities in Hohhot, capital of the Chinese autonomous region of Inner Mongolia, in the first half of the current year the region imported 2.538 million mt of iron ore, up 59.4 percent year on year, with a value of $230 million, up 109.1 percent year on year.

Inner Mongolia's increased import volume of iron ore may be attributed to the increased demand for steel raw materials caused by the rapid development of steel consuming industries such as automotive and infrastructure. In line with the price increase of iron ore in the international markets, the price of iron ore imports coming into the region has also increased. The average price of imported iron ore in Inner Mongolia for the first six months of this year was $92/mt, up 29.6 percent year on year.

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