China: Iron ore imports down 4% y-o-y in H1CY22

China, the world’s largest iron ore consumer and importer, recorded imports of the raw material (including pellets) at 535.75 mnt in Jan-Jun’22, according to the General Administration of Customs. The volumes declined by 4% on y-o-y basis due to decreased demand from steel mills. The country has recorded iron ore imports at 88.97 mnt in Jun’22, inching down by 1% y-o-y. Steel production cuts have kept raw material demand subdued impacting import volumes.