BEIJING (Scrap Monster) : According to most recent data released by the General Administration of Customs, the iron ore imports by China during the month of July touched new record, beating the December 2012 highs. The imports surged by nearly 17% over the previous month.
According to customs data, the country’s total imports of iron-ore during the month of July amounted to 73.14 million tonnes, which is 17% higher than the imports of 62.3 million tonnes reported during June. The imports had reached a four-month low in June. The July imports have exceeded the earlier highs of 70.94 million tonnes made in December last year.
The cumulative iron ore imports by China during the first seven months of the year amounted to 457.2 million tonnes. The imports during January to July rose by 8% when compared with those during the corresponding period in 2012. The country’s total imports during the seven-month period in 2012 amounted to 423 million tonnes.
Also, China’s steel exports receded by nearly 3% to 5.15 million tonnes in July when compared with the 5.29 million tonnes steel exports during June. The total steel exports during the initial seven months stood at 35.8 million tonnes-14% higher over the previous year.
On the other hand, the country’s imports of steel products surged by almost 10% to 1.18 million tonnes in July when compared with the 1.08 million tonnes steel products import during June. The total steel products import during the initial seven months stood at 8.01 million tonnes. The imports during the seven-month period remained stable year-over-year.
Author: Paul Ploumis