In the January-May period this year, China imported 447 million mt of iron ore, down 5.1 percent year on year, while the average import price stood at RBM 789.6/mt ($118.4/mt), down 28.1 percent year on year, as announced by the Chinese customs authorities on June 9.
The slack demand for iron ore from steelmakers due to the lockdown in Shanghai resulted in the year-on-year decline in iron ore imports.