China: Iron Ore Imports Up 19% in Q3 CY19

According to General Administration of Customs, China - the world's largest iron ore consumer and importer, recorded 19% increase in imports to 285.23 MnT in Q3 CY19 as against 239.7 MnT in Q2 CY19. The imports for the quarter picked up amid easing supplies from largest iron ore miners. Vale- announced resumption at its Brucutu mines and also resumed partial operation at its Vargem Grande Complex in Q3 CY19.

On yearly basis too, imports picked up in third quarter compared to 272.77 MnT in Q3 CY18.

China iron ore imports hit 20 months high in Sep'19

Chinese iron ore imports for the month of Sep'19 recorded 5% rise to 99.36 MnT in Sep'19 against Aug’19 imports at 94.85 MnT. The imports have hit 20- months high for the month as the level was last witnessed in Jan’18 at 100.32 MnT.

The imports for the month remained firm despite production curbs imposed in Tangshan ahead of National week holiday. However, stocks at major Chinese ports picked up in Sep’19 end to 129.95 MnT as against 125.25 MnT towards Aug’19 end.

On yearly basis, import volumes depicted 6% rise as compared to 93.47 MnT in Sep'18.

The total imports for the CY19 (Jan-Sep'19) fell to 785.69 MnT, down 2% as compared to 803.44 MnT in CY18 (Jan-Sep18).

Average global iron ore fines prices stable in Sep’19

Monthly average iron ore prices stood at USD 93/MT, CFR China in Sep’19 against previous month at USD 92/MT, CFR China. The spot iron ore fines (Fe 62%) have witnessed drop in past few months against USD 120/MT, CFR China assessed towards July’19.