Iron ore imports in China decreased by 4.2 percent year on year to 933.484 million mt in the January-October period of the year, as announced by the Chinese customs authorities on November 7.
In October alone, China imported 91.606 million mt of iron ore, down 14.2 percent year on year, while down 4.2 percent month on month, indicating that demand for import iron ore has slackened due to production restrictions and power supply limitations.
Moreover, steel prices in the Chinese domestic market have declined, which will exert a negative impact on demand for import iron ore, especially with the weather getting colder and colder.