China: Iron Ore Imports Up 11% M-o-M in May’17

China, the world’s largest importer of iron ore has imported 91.52 MnT iron ore in May’17. Iron ore imports have been up by 11% M-o-M against the quantity of 82.23 MnT in Apr’17 and up 6% Y-o-Y from 86.75 MnT in May’16.

The China iron ore imports were up 8% at 445 MnT for the first five months in 2017 as well against 412 MnT for the Jan-May in 2016.

Falling prices resulted in higher imports & rise in iron ore stockpile – Notably monthly average spot iron ore fines prices in China fell by USD 10/MT M-o-M to USD 60.9/MT, CFR China in May’17. Increased imports resulted in increased stockpile at Chinese major ports. Iron ore stocks at Chinese major ports climbed from 131.95 MnT (as on 1st week of May’17) to 136.6 MnT (as on last week of May’17).

Country-wise iron ore Imports of China

Australia, Brazil, South Africa and India made up 90% of China’s iron ore imports. It is a usual iron ore import pattern China follows. The exports from these four major iron producing countries to China were 315.57 MnT in first four months i.e Jan-Apr’17.

Major iron ore exporting countries to China

Figures are in MnT
Source: SteelMint Stats and Customs
Provisional Data