Iron ore: imports into China increased by 7.7% in January-May

In the January-May period this year, China imported 481 million tonnes of iron ore, up 7.7% year-on-year. The average import price was RMB 791.5/mt ($111.5/mt), down 4.5% year-on-year.

Iron ore imports amounted to 96.17 million tonnes in May alone, up 6.34% month-on-month and 3.95% year-on-year.

The expectation of strong demand for raw materials in May boosted Chinese iron ore imports on a year-on-year basis. However, as demand was not as good as market participants expected, prices started to fall from 18 May. Rising prices of finished products then pushed up iron ore prices from 24 May.

Iron Ore 62% Fe CFR – China euro/tonne – Powered by Commodity Evolution