Iron ore imports in China decreased by 1.5 percent year on year to 649.025 million mt in the January-July period this year, as announced by the Chinese customs authorities on August 7.
In July, a trend of contraction continued and China imported 88.506 million mt of iron ore, down 21.4 percent year on year, while down 1.02 percent month on month.
China’s iron ore imports in 2021 will likely fall to a historical new low, with reduced imports from Australia. The average crude steel output in China decreased in late July and expectations for the second half of the year are mainly negative in terms of iron ore demand, which will negatively impact iron ore imports.
In July, iron ore import prices in China moved sideways first, reaching the highest level of the month on $221/mt CFR on July 6, while falling in late July, to a lowest level for the month of $180/mt CFR on July 30 and 31.