China Iron Ore Imports in May’15
China, the largest consumer of iron ore across the globe, imported 70.9 MnT seaborne iron ore in May’15. In Apr’15 the import figures were around 80.2 MnT. There is a big fall in the imports of nearly 12%.
Iron ore imports were around 938 MnT in FY15. There was a reduction of 9.6% (Y-o-Y) were recorded as compared to exports in FY14 which were 855.4 MnT.
During the fist five months of 2015, China imported 378 MnT iron ore which was 382.4 MnT in the same period of time last year.
Why Chinese Imports Fell in May’15?
Reasons behind lesser exports could be summarized as weaker steel demand in China. Chinese steelmakers were not showing buying interest towards raw material. Also, there are sufficient inventories available at major Chinese ports. In addition to this, Chinese steel prices are also maintained at lower levels which is directly affecting iron ore prices.
Countrywise Iron ore Imports to China
Quantity in MnT
Source: SteelMint Research
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