China, the world’s largest importer of iron ore has imported 86.25 MnT iron ore in Jul”17. Iron ore imports have been down by 9% M-o-M against the duantity of 94.7 in Jun’17.
The China iron ore imports were down Y-o-Y as well by 2% against 88.4 MnT in Jul 16; however the China iron ore imports were up 7% at 625.8 MnT for the first seven months in 2017 against 582.2 MnT between Jan-Jul in 2016.
Upward price trend affected imports for the month – The iron ore prices have been rising in China consistently from the end of June. Monthly average spot iron ore fines (Fe 62%) prices were analyzed at USD 67/MT, CFR China in Jul’17 which were USD 57/MT, CFR China in Jun’17.
China accounts for nearly 70% of world’s seaborne iron ore trade and imports iron ore majorly from Australia, Brazil, South Africa, India, Ukraine and Iran.
Source Steel Mint powered by Keyvan Jafari Tehrani
