China’s iron ore imports increase – 2024 Q1

BEIJING, April 12 (Reuters) – According to customs data released on Friday, China’s iron ore imports in March increased by approximately 0.5% compared to the same period last year. This uptick comes amidst expectations of heightened demand post the Lunar New Year holiday, as steel manufacturers typically increase their production.

In March, the world’s largest consumer of iron ore imported 100.72 million metric tons of this crucial steelmaking component, as reported by the General Administration of Customs. For the first quarter of 2024, China’s iron ore imports totaled 310.13 million tons, reflecting a 5.5% increase from the previous year, according to customs data.