China iron ore imports rose by 3.4% MoM in November, with the import volume anticipated to decrease in December

Published: Dec 13, 2023 10:17

Source: SMM

Save

Per the General Administration of Customs data, October's iron ore and concentrate imports totaled 99.385 million mt, down 1.8% MoM, primarily due to reduced working days resulting from holidays.

Data from the General Administration of Customs showed November's iron ore and concentrate imports surging to 102.743 million mt, up 3.4% MoM. The cumulative import volume from January through November reached 1.078 billion mt, up 6.2% YoY. Despite fewer days in November, the import volume rose MoM due to: 1) reduced work efficiency from October holidays; 2) mines rushing to boost year-end output and shipping early; 3) late November's steel mill profit recovery and heightened iron ore demand after blast furnace operations resumed.

SMM anticipates a slight decline in December's import volume due to: 1) Demand side: December remains a peak maintenance period for blast furnaces, with an expected drop in pig iron daily output, causing a corresponding dip in rigid demand; 2) Supply side: Overseas workers starting their holidays mid to late December, resulting in reduced overseas supply.

Import/Export

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

May 15, 2026 18:21

[SMM Hot Topic] Rebar Base Price "Exists in Name Only," Pricing System Has Completely Changed

SMM has been deeply engaged in the metal industry for decades, consistently upholding the principles of objectivity, neutrality, pragmatism, and rigor. By adhering to actual market transactions as the core pricing benchmark and leveraging its well-established price assessment methodology and comprehensive data system, SMM continues to deliver standardized market benchmarks for participants across the industry chain. This provides solid support for industry pricing standards, transaction settlements, and business decision-making, serving as a long-term partner in the steady development of the metal industry.

May 15, 2026 18:21

May 15, 2026 18:11

5.15 SMM Global Steel Daily Report

[Turkey] Recently, Turkish long steel giant Kardemir launched a new round of billet sales. By slightly lowering its list prices, the company rapidly attracted a large volume of domestic orders and subsequently closed the sale. The company offered S235JR grade billets at 530 USD/tonne (EXW), a decrease of 5 USD/tonne from the previous round, while B420 grade billets were priced at 540 USD/tonne (EXW), down by 10 USD/tonne.

May 15, 2026 18:11

May 15, 2026 18:07

Ferrous Metals Maintain Fluctuating Trend in the Short Term [SMM Steel Industry Chain Weekly Report]

This week, ferrous metals rose and then pulled back, moving sideways overall, with coking coal and coke experiencing a more notable pullback. In the first half of the week, market rumors suggested that a thermal coal supply assurance meeting would be held on Friday, which, combined with the sharp pullback on the raw material side driven by industrial capital fleeing, led to an overall pullback in ferrous metals. In the second half of the week, Trump's visit to China and trade negotiations proceeded simultaneously, but futures had already priced this in earlier, with no significant fluctuations. When the five major steel product data were released, supply showed some divergence, demand generally increased, and inventory destocking was strong. Spot market side, spot prices were held relatively firm, market transactions were mostly at low prices, and when the spot-futures price spread widened, basis traders were seen making shipments...

May 15, 2026 18:07