SHANGHAI, Oct 28 (SMM) – China's iron ore imports may continue to climb and reach a record high in October, with limited signs of slower increase, after the imports hit a 20-month high in September, suggesting that concerns about lower crude steel production this winter could be eased.
According to vessels tracking data and official data at Chinese ports, more than 100 million mt of seaborne iron ore used in steelmaking is likely to enter China in October.
This is expected to be the third time in record that domestic monthly iron ore imports exceed 100 million mt, following last in September 2017 and January 2018.
Customs data showed that China’s imports of iron ore and concentrates rose for a third straight month to stand at 99.36 million mt in September, higher than August and the highest since January 2018
Recent increase in iron ore imports followed after shipment disruption earlier this year from two major suppliers, Brazil and Australia, due to the collapse of a tailings dam and a tropical cyclone.