In 2015, China iron ore import is recorded to be the highest in July. A total quantity of 86.1 MnT iron ore was imported by the world’s top consumer of the material. However, the country’s highest ever iron ore import was registered in the month of Dec’14, which was 86.9 MnT.
In FY15, the country imported 938 MnT iron ore, 10% more than in FY14. During the first seven months of this year, the country imported total 539 MnT iron ore.
Imports were increased by the country in July as mills started restocking the raw material. Steelmakers in China could be ramping up steel production before 20 Aug- 3 Sept when World War 2 would be commemorated and the government would issue orders for production cut to ensure clean air in Beijing.
Brazil iron ore export was up by 9% Y-o-Y and stood at 34 MnT in July’15, which was 32 MnT in June’15.
Singapore Exchange remained closed on 07 & 10 Aug’15 due to public holiday. Market will resume tomorrow.
Source: SteelMint Research
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