General Administration Of Customs: China Imported 776 Million Mt Of Iron Ore In The First 8 Months, An Increase Of 7.4%

Published: Sep 7, 2023 19:42

Save

According to data from the General Administration of Customs, the import volume of major commodities such as iron ore, crude oil, coal, natural gas, and soybeans has increased and prices have fallen.

According to data from the General Administration of Customs, the import volume of major commodities such as iron ore, crude oil, coal, natural gas, and soybeans has increased and prices have fallen. In the first eight months, China imported 776 million mt of iron ore, an increase of 7.4% YoY, and the average import price was 783.6 yuan/mt, a decrease of 3.6% YoY. The import volume of crude oil was 379 million mt, an increase of 14.7% YoY, and the average import price was 4,005.7 yuan/mt, a decrease of 16.8% YoY. The import volume of coal was 306 million mt, an increase of 82% YoY, and the average import price was 812.5 yuan/mt, a decrease of 20.8% YoY. The import volume of natural gas was 77.707 million mt, an increase of 9.4% YoY, and the average import price was 3762.1 yuan/mt, a decrease of 3.3% YoY. The import volume of soybeans was 71.654 million mt, an increase of 17.9% YoY, and the average import price was 4288.6 yuan/mt, down 1.5% YoY. The import volume of refined oil products was 30.55 million mt, up 100.1% YoY, and the average import price was 3,977.4 yuan/mt, down 25.5% YoY. During the same period, imported mechanical and electrical products amounted to 4.09 trillion yuan, a decrease of 9.9% YoY.

Macro economy

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 for 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

13 hours ago

Midea Air Conditioning Abandons Traditional Cold Year Opening for Retail-Focused Strategy in 2027

According to Yingketong, Midea Air Conditioning officially announced in July 2026 that it will no longer initiate the traditional Cold Year Opening for the 2027 new cooling year, instead fully committing to a new strategy of “battling for retail and competing for end-users.” This decision marks a temporary halt to the near three-decade-old model of “collecting payments in the off-season and chasing volume in the peak season” within the air conditioning industry. The “Cold Year Opening” is a unique business rhythm in the air conditioning sector. Typically, starting from H2 (from July/August to October/November), producers hold openings in batches through policy incentives to attract channel merchants to make advance payments and stockpile goods. Then, in H1 of the following year, they concentrate shipments through various large-scale sales promotions, creating a cycle of “pushing inventory in the off-season and chasing volume in the peak season.” The specific measures for Midea Air Conditioning’s cancellation of the new Cold Year Opening include: no longer holding opening meetings that involve centralized channel payments, policy lock-in, and large-scale stockpiling; abolishing the practice of “mandatory advance payments to lock in annual policies”; and shifting to terminal replenishment based on actual demand, with full-cycle normalized policies implemented.

13 hours ago

Jul 24, 2026 23:29

Zambian Elections: Hichilema Expected to Win; Economic Growth in Focus

Zambia will hold presidential and parliamentary elections on August 13. The market widely expects that incumbent President Hichilema Hakainde will win reelection. For investors, the core concern is whether his second term can transform the economic stabilization after the sovereign debt default into robust, mining-led, job-creating growth.

Jul 24, 2026 23:29

Antofagasta Resumes Production at Los Pelambres Copper Mine After Rain and Power Outage

Chilean copper miner Antofagasta said production has resumed at its Los Pelambres copper mine, north of Santiago, after it was halted by heavy rains and a power outage. The London-listed miner on Friday maintained its full-year production expectations despite the brief disruption, saying there was no significant damage to equipment or critical infrastructure.

Jul 24, 2026 23:29