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.
