China: Iron ore imports fall 9% m-o-m in May’21

China, the world’s largest iron ore consumer and importer, recorded imports at 89.79 mn t in May’21 against 98.57 mn t in Apr, according to General Administration of Customs data. The country’s imports dropped by 9% m-o-m due to falling steel margins from mid-May onwards amid a renewed surge in iron ore prices even as China’s government focuses on steel output control measures. Total iron ore imports were recorded at 471.76 mn t in Jan-May’21, up by 6% y-o-y.