China Iron Ore Imports

China iron ore spend plunges 26% in October as prices dip below $90

China imported 91.6 million tonnes of iron ore for the month of October, down over 4% on September according to data released today by the country’s General Administration of Customs.

Total spend for the metal was down 26% to just under $12.6 billion US dollars thanks to softening prices.

October saw a decline in spend of just under 2% over the previous year, despite a 14% drop in tonnage.

Copper ore and concentrates

Chinese imports of copper ore and concentrates declined by nearly 15% in October to 1.8 million tonnes, with spend decreasing by 16%.

Year-on-year tonnage was up by over 6%, accompanied by a substantial 45% increase in spend compared to October 2020 on strengthening prices.

Coal and lignite

October coal and lignite imports declined by over 18% from September to 26.9 million tonnes, with spend dropping by nearly 8%.

Year-on-year figures provided a more stark difference, with tonnage rising by over 96% and spend increasing by a whopping 292% compared to October 2020.

Australian exports to China

Total Australian exports to China amounted to 12.56 billion US dollars in October, representing a trade surplus of just over 6.14 billion dollars.

The figure dropped from just over 15.04 billion dollars in September, but achieved a 24% year-on-year increase from 10.1 billion dollars in October 2020.

Written By Tristan Gray
Originally from Canada, Tris trained as a journalist but early in her career moved into marketing and advertising. Tris now spends her days managing the systems and processes while overseeing all company operations.