China’s iron ore imports up 5.4% in Jan-Apr amid strong demand in Apr

Thursday, 07 May 2020 14:21:18 (GMT+3)   |   Shanghai
       

In the January-April period this year, iron ore imports in China increased by 5.4 percent or about 20 million mt year on year reaching 360 million mt. The year-on-year rise was 4.1 percentage points faster than that recorded in the first three months of the year, as announced by the Chinese customs authorities on May 7. The latest figures reflect improved demand from Chinese steelmakers after downstream industries resumed operations as of late March. Moreover, better weather conditions allowed both Australia and Brazil to increase shipments.

In April, iron ore prices have mostly fluctuated within a limited range of $81-85/mt CFR. Overall prices at Chinese ports were 10 percent higher year on year. It is thought that iron ore prices will likely move on a firm trend due to strong steel production in China. 


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