In April this year, China imported 98.566 million mt of iron ore, down 3.47 percent from the March level of 102.109 million mt of iron ore, but still up 2.98 percent year on year, as announced by the Chinese customs authorities on May 7.
The month-on-month decline is due to lower shipments from Australia early in April, when Tropical Cyclone Seroja impacted mines and ports.
At the same time, overall demand for iron ore in China was good during the month owing to increased utilization rates at Chinese mills, apart from those in Hebei which faced restrictions.
Iron ore prices increased from $166.1/mt CFR for 62 percent Fe fines recorded during April 1-5, hitting the highest level in April at $193/mt CFR on April 27. Following the Labor Day holiday (May 1-5), iron ore futures surged by 6.81 percent on the first trading day (May 6), positively affecting spot iron ore prices, which exceeded $200/mt CFR. Import iron ore prices will be strong in May due to the prevailing bullish sentiments among market players, sources have said.
In the January-April period of the year, iron ore imports in China increased by 6.7 percent, reaching 381.975 million mt.
