China imported just over 87 million tonnes of iron ore for the March 2022 period, with volume declining by 14.5% from the same period the previous year according to data released by the country’s General Administration of Customs.
Total year-on-year spend was down by almost 34% to just over $10.8 billion US dollars as prices retreated from record 2021 highs.
Copper ore and concentrates
Chinese imports of copper ore and concentrates were relatively flat for March, increasing by 0.6% year-on-year, hitting 2.18 million tonnes.
Spend for the month was up by 15%, thanks to stronger prices for the metal.
Coal and lignite
March coal and lignite imports dropped by 40% from the previous year to 16.4 million tonnes, despite spend increasing by 6.7%.
China purchased 13,501.4 tonnes of rare earths during March for a total of USD $153.5 million.
Australian exports to China
Total Australian exports to China amounted to 11.17 billion US dollars for March, representing a trade surplus of just under 5.3 billion dollars.
The figure represented a declined from 13.16 billion dollars during the same period in 2021.