In the January-July period this year, China's iron ore imports amounted to 736.841 million mt, up 5.9 percent year on year, 0.4 percentage points slower compared to the increase recorded in the first six months this year, according to the latest data released by China's General Administration of Customs (GACC).
In July, import iron ore prices moved up first, while edging down later. Due to the high summer temperatures, demand for finished steel in July was slack, which resulted in the downward trend of steel prices, which in turn also negatively affected iron ore prices.
In July alone, China's iron ore imports totaled 108.085 million mt, down 4.1 percent month on month, while rising by 3.3 percent year on year.
