In the January-June period this year, China imported 576.135 million mt of iron ore, up 7.7 percent year on year, as announced by the Chinese customs authorities on July 13.
In June alone, China imported 95.518 million mt of iron ore, up 7.36 percent year on year, while down 0.7 percent month on month.
Iron ore prices moved up in June amid the increasing trend in finished steel, which exerted a positive impact on the demand for iron ore in the given month. In July, the high temperature negatively affected construction activities, which weakened support to finished steel prices and iron ore prices. However, the production of pig iron has been at relatively high level, signaling firm demand for iron ore, which will bolster prices in the near future.