In July, China imported 112.647 million mt of iron ore, up 23.8 percent year on year, while rising by 10.8 percent month on month, as announced by the Chinese customs authorities on August 7.
In the January-July period of the year, iron ore imports in China increased by 11.8 percent year on year, reaching 659.555 million mt, with the year-on-year rise 2.2 percentage points higher than that recorded in the first six months of the year.
Iron ore prices moved up sharply in July as market players expected to see good demand for iron ore amid the approaching traditional peak season for steel consumption in China. It is expected that iron ore prices will remain at high levels in the coming period due to relatively low iron ore inventories at steelmakers and at ports.