Iron ore imports in China remained strong at over 100 million mt in August, since, despite production cuts in the same month, steel mills have shown strong interest in buying, expecting steel demand to rebound in the September-October period. As a result, in general year-on-year declines in iron ore imports in the first eight months this year have been smaller than the reductions in crude steel production.
In the January-August period this year, China’s iron ore imports amounted to 801.618 million mt, down 1.6 percent year on year, according to the latest data released by China's General Administration of Customs (GACC). This shows a slower decline compared to 2.3 percent drop in the January-July period.
In August alone, China’s iron ore imports totaled 105.225 million mt, up 3.7 percent year on year, while increasing by 0.58 percent month on month.
Crude steel production of CISA members posted a sharp fall of eight percent in late August, after higher results in early August. However, in September crude steel output is expected to improve.
