According to the local customs authorities, in the first half of this year the iron ore imports of China's Heilongjiang Province reached 2.507 million mt, which is 1.2 times the volume recorded in H1 last year. The 2.507 million mt was worth a total of $410 million. The average iron ore import price was $163.4/mt, up 41 percent year on year. Russia remained the leading source of imported iron ore arriving in Heilongjiang.
Many market players have stated that the main reason for the increase in iron ore imports in Heilongjiang was the strong steel demand in the domestic market. The increased activity in social housing construction in China and Japan's steel demand within the scope of reconstruction after the March 11 earthquake both contributed to the increase in iron ore imports.