In 2019 Australia was China& 39;s biggest supplier of iron ore accounting for around 62.2 percent of the total iron ore import tonnage to China.
Imports to China increased by 6.5 percent year-on-year to a record high of USD 203.7 billion in December of 2020 after a 4.5 percent rise a month earlier and above market consensus of a 5 percent increase. This was the fourth straight month of growth in inbound shipments supported by improving domestic demand and higher commodity prices. Purchases rose for both coal 1619.85% natural gas
Buoyant steel production last year led China’s total iron ore imports to surge to 1.17 billion tonnes making for a substantial year-on-year increase of 101.4 million tonnes or 9.5% and refreshing the all-time high according to the latest statistics released by China’s General Administration of Customs on January 14.
Looking forward we estimate Imports of Iron Ores and Concentrate in China to stand at 6703212.00 in 12 months time. In the long-term the China Imports of Iron Ores and Concentrate is projected to trend around 6723736.23 USD THO in 2021 and 6734106.79 USD THO in 2022 according to our econometric models.
In recent years the jump in iron ore imports fueled by strong demand at steel mills and infrastructure sector helping to boost iron ore imports facilitating China’s iron ore imports rise higher level the Iron ore imports data showed: China imported a total amount of approximately 1.069 bln T vs 1.064 bln T in 2018; Dec imports 101.3 mln T
China the world’s top steel producer imported 1.17 billion tonnes of iron ore in 2020 data from the General Administration of Customs showed on Thursday. That beat annual imports of 1.069 billion tonnes in 2019 and the previous record of 1.075 billion tonnes set in 2017.
Australia’s challenge with iron ore is to focus on other smaller customers in case China imposes restrictions on imports an unlikely event today given the shortage of supply but a possibility
China the world’s biggest steel producer currently relies on imports for around 80% of its iron ore but it is not known how much of that is from mines overseas in which it holds stakes.
Share of iron ore imports to China by major country of origin 2019; National Bureau of Statistics of China. "Import volume of iron ore in China between 2009 and 2019 in million tons ." Chart.
China’s iron ore imports increased by 9.5% in 2020 in comparison with 2019 Chinese customs data shows. The country imported 1.17 billion tonnes of the steelmaking material last year compared with 1.07 billion tonnes in 2019 according to the statistics released on Thursday January 14.