China Aug iron ore imports down


    BEIJING/SHANGHAI- China’s iron ore imports in August fell 10.9 percent from a month earlier, easing from a record high in July on fewer shipments from big miners and port congestion, official customs data showed on Monday.

    The world’s top iron ore consumer brought in 100.36 million tons of iron ore last month, according to data from the General Administration of Customs. That was down from 112.65 million tons in July and up 5.8 percent from the same period a year earlier.

    “Iron ore imports in China were partly delayed last month due to coronavirus-related restrictions,” said Tang Binghua, analyst with Founder CIFCO Futures, noting that port congestion in China was heavy last month and slowed customs clearance.

    Shipments from big miners in July also dipped after the end of the financial year in Australia, Tang added.

    However, imports rose from a year earlier on resilient demand for steel.