China’s iron ore imports rise in Nov m-o-m, y-o-y, price keeps increasing
According to statistics from the General Administration of Customs of China (GACC), China’s iron ore imports totaled around 102.7 million tons in November this year, up 3.4% from the previous month and by 3.9% compared to the same month a year ago.
In the first 11 months of this year, China imported around 1.08 billion tons of iron ore, a year-on-year increase of 6.2%.
The price of iron ore fell at the end of November due to the Chinese government’s policy to cool down speculative activities in the iron ore market.
However, the demand has been good so far this month on account of relatively high capacity utilization rates from steelmakers. The current price is now back to an upward trend with the rebound in iron ore futures prices.
