Customs data showed Tuesday that China’s iron ore imports rose 5.1% in April from the same period a year earlier, as buyers expected strong demand for steelmaking components during the peak construction season in spring.
“According to our model, the use of imported iron ore increased by more than 6% in April, so it is not surprising that we saw a slight increase in imports year-on-year last month,” said Bai Hao, from Shanghai. Senior resident analyst at the international brokerage firm FIS.
Iron ore imports for the January-April period totaled 385 million tonnes, up 8.6% from the same period in 2022, according to the customs, benefiting from expectations of a strong recovery in downstream demand in March and April after Beijing abruptly abandoned its strict anti-virus policy. Corona late. last year.
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