China imported 100.718 million mt of iron ore in March 2024, up 0.5% YoY

According to data from the General Administration of Customs, China exported 9.888 million mt of steel in March 2024, up 2.718 million mt MoM. Total steel exports in January-March were 25.8 million mt, up 30.7% YoY.

China’s steel imports totalled 617,000 mt in March, up 87,000 mt or 16.4% MoM. Aggregated steel imports from January to March were 1.748 million mt, down 8.6% YoY.

In volume terms, China’s iron ore imports in March were 100.718 million mt (+3.208 million mt or 3.3% MoM, +489,000 mt or 0.5% YoY), but in values terms they averaged $126/mt (-$6.7/mt MoM). From January to March, iron ore imports were 310.125 million mt (+5.5% YoY), with average import prices at $129.6/mt (+$12.5/mt YoY).