A Record High: China's Iron Ore Imports to Exceed 1.2 Billion mt in 2024!

Published: Jan 17, 2025 10:26

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According to data from the General Administration of Customs, China’s cumulative imports of iron ore and concentrates reached 1.236546 billion mt in 2024, up 4.9% YoY, setting a historical record.

According to data from the General Administration of Customs, China’s cumulative imports of iron ore and its concentrates reached 1.236546 billion mt in 2024, up 4.9% YoY, marking a record high. Additionally, data from commodity data provider Kpler showed that global seaborne iron ore imports in 2024 totaled 1.707 billion mt, an increase of 60 million mt YoY. Based on this calculation, China accounted for approximately 72% of the global seaborne iron ore volume in 2024, with the growth in global seaborne iron ore mainly driven by China. China's seaborne imports increased by about 57.49 million mt, accounting for 96% of the global growth.

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