Iron ore imports in China rose by 4.75 percent month on month and 6.3 percent year on year, reaching 99.355 million mt in September, the highest level in 20 months.
In the January-September period this year, China’s imports of iron ore and iron ore concentrate amounted to 784.13 million mt, down 2.4 percent year on year, but the decline slowed down from 3.5 percent in January-August.
Iron ore prices have seen an overall downtrend in August, stimulating more purchasing activities for iron ore, while prices have moved up to $98.5/mt on September 15 and then edged down again in the rest of September, according to SteelOrbis. The shipment of iron ore is expected to decrease in October due to maintenances on railway lines of Australian mines. However, the production restriction measures in the country for autumn and winter heating season will somewhat prevent further sharp growth of demand for iron ore.
