China iron ore imports close to 3-years high in Jun'20

China - the world's largest iron ore consumer and importer recorded iron ore and pellet imports at 101.68 mn t in June'20, up 17% as against 87.03 mn t in May'20, according to the General Administration of Customs. The imports picked for the month amid easing shipments from the Brazilian miners and rising Chinese demand. The imports for the month stood 33-months high as similar import volume level was last witnessed towards Oct'17.

On an yearly basis too, imports picked up 35% compared to 75.18 mn t in June'19.

China iron ore and pellet imports up 9% in H1 CY20

The total Chinese iron ore and pellet imports in H1CY20 witnessed at 546.9 mn t, according to the General Administration of Customs. The imports have witnessed a rise of about 9% in H1CY20 as against 500.46 mn t in H1 CY19. The increase in imports depicts rise in production by Steel mills post lockdown and recovery in construction activities.

Average iron ore prices down marginally in H1 CY20
Average global iron ore fines (Fe 62%) price dropped marginally to $ 91/t, CFR China in H1 CY'20 against $ 92/t, CFR China in H1 CY19.