China, the world’s largest importer of iron ore has imported 83.49 MnT iron ore in Feb’17. Iron ore imports have been down by 9.25% M-o-M.
Though the imports were down M-o-M, it was up 13% Y-o-Y for the same month last year as it was 73.6 in Feb’16.
In China the higher grade material has been much in demand recently due to the increased development and construction activity that regained after an interval of a big holiday season of Chinese New Year.
Monthly average spot iron ore fines (Fe 62%) prices remained on higher side at USD 88.2/MT, CFR China in Jan’17 which was USD 80.2/MT, CFR China in Jan’16.
Leave a Reply