China iron ore import set a high level again. According to the data from General Administration of Customs on October 14, China imported iron ore reached 64..55mln tons in September, up 65% from the same period of last year or by 30% over last month’ s 49.68mln tons, even higher 10% compared with the highest import in July.
China imported 469mln tons of iron ore in the first nine months, up 36% year on year. According to 50mln tons of monthly average import as the first nine months this year, it is no doubt that the import will get to 600mln tons in the whole year. However, the imported ore was only 440mln tons in 2008.
Several senior insiders of industry all can not explain where the large quantity of iron ore came and showed great surprise about the high import.
Analysts told reporters that generally speaking, the iron ore import stemmed from the demand, including the factor of centralized shipment in October.
Analysts pointed out that the amount of imported iron ore usually has something with ore spot price, operation rate of steel mills, future demand and price expectation. The significant import in September mainly resulted from the continuous increase of steel price from June as well as the increasing operation rate of steel mills.
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