Imported iron ore prices in China's major cities have remained stable, with the average price reaching $109.7 per ton in March 2024, down 12% from February but still 14.6% higher than March 2023.
China's iron ore imports reached 101.82 million metric tons in April 2024, a 1.1% increase from March and 12.6% higher than April 2023, driven by lower prices and expectations of improved demand in the second half of the year. The robust imports contrast with China's declining steel production, which fell 7.2% year-over-year in April, leading to weak margins for steel mills[4][5].
Citations:
[1] https://www.mysteel.net/price-summary/445412-imported-iron-ore-prices-chinas-major-cities
[2] https://www.statista.com/statistics/1070171/china-iron-ore-import-share-by-country/
[3] https://commons.wmu.se/cgi/viewcontent.cgi?article=1245&context=all_dissertations
[4] https://www.reuters.com/markets/commodities/chinas-strong-iron-ore-imports-contrast-with-weak-steel-output-russell-2024-06-11/
[5] https://www.hellenicshippingnews.com/chinas-april-iron-ore-imports-stay-high-as-lower-prices-draw-buyers/