[SMM brief Review] imports of 89.417 million tons of iron ore fell 0.4% month-on-month in June to basically maintain stability.

SMM7 March 13: according to data from the General Administration of Customs, China imported 89.417 million tons of iron ore and its concentrate in June, down 12.1 percent from January to June, an increase of 2.6 percent over the same period last year.

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Iron ore imports continued to maintain stability in June, down 0.42% from the previous month. On the one hand, the shipments of overseas mines have not been significantly relaxed, and the average weekly volume of imported mines to the port in June has been maintained at about 12.35 million tons, although the month-on-month average has increased slightly compared with May, but it has remained stable as a whole. On the other hand, the impact of holiday factors in June has weakened, and the efficiency of customs clearance is expected to improve, so it is difficult to see a sharp decline in imports in June.

In addition, some steel mills and traders are more cautious about purchasing raw materials, taking into account the impact of the anniversary of the founding of the party in early July. Overall, iron ore imports were basically stable in June.