In the January-March period this year, China’s iron ore imports amounted to 314.762 million mt, up 10.5 percent year on year, according to the latest data released by China's General Administration of Customs (GACC).
In March alone, China’s iron ore imports totaled 104.743 million, up 7.6 percent month on month.
Following the winter maintenance shutdowns, Chinese steelmakers traditionally increase raw material stockpiling in March, which is a seasonal driver of iron ore imports. Meanwhile, though the real estate sector has remained weak, the growth in infrastructure investment counterbalances the decline in the real estate market, providing support for demand for iron ore.