Iron Ore and Concentrate Imports Increased Jan-Feb 2023

SHANGHAI, Mar 10 (SMM) – From January to February 2023, imports of iron ore and concentrates totalled 194.196 million mt, a year-on-year growth of 7.3%. From the perspective of overseas supply, overseas mines the market shipments in December 2022 in order to complete the annual plan, which arrived in January and February 2023.

According to SMM data, arriving shipments from Australia dipped due to the hurricane and the incident of BHP. Shipments from Brazil fell as well due to the torrential rain. Shipments from Australia and Brazil rebounded in February as the weather improved. Overall, the implications of heavy rains on shipments this year have been weaker than in previous years. This, combined with substantial growth in arriving shipments from India, drove up overall iron ore arrivals in China. In March, with the advancement of real estate and infrastructure construction, downstream demand will gradually pick up.