China’s iron ore imports down in Aug from July peak, still up sharply y-o-y

Monday, 07 September 2020 14:23:08 (GMT+3)   |   Shanghai
       

Iron ore imports in China increased by 11.0 percent year on year, reaching 759.915 million mt in the January-August period of the current year, with the year-on-year rise 0.8 percentage points slower than that recorded in the first seven months of the year, as announced by the Chinese customs authorities on September 7.

In August alone, China imported 100.36 million mt of iron ore, up 5.8 percent year on year, while down 10.7 percent month on month.

Iron ore prices first moved up in August, reaching their highest level for the month at $129/mt CFR, and then edged down later amid the downward correction seen in ferrous metal futures prices. However, iron ore prices have moved up further so far in September amid better expectations for demand for steel and iron ore in the traditional peak season for business.


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