According to data released yesterday by the General Administration of Customs, China imported 51.2 million tons of iron ore in July, a decrease of 11.8% from the same period of last year. This is the fourth consecutive month of decline in China's iron ore imports, but it was 47.17 million tons in June from the previous month. The import volume increased in July.
It is reported that since March, China's iron ore imports have continued to decline year-on-year. The amount of imported iron ore in July was US$7.239 billion. As such, the average price of imported iron ore was about US$141.4/ton, and prices continued to rise.
From January of this year, the average price of iron ore imports in China has continued to rise month by month. Among them, after the average import price in March exceeded US$100/ton, this price reached US$139.8/ton in June, setting the highest single-month average import price since October 2008.