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    • Delayed Prices (USD) - Last Updated 04-07-2022
    • Gold $1,812.90
    • Silver $19.91
    • Platinum $891.00
    • Palladium $1,882.00
    • Dalian Iron Ore i2209 $110.34
    • Aluminium $2,444.00
    • Cobalt $72,460.00
    • Copper $8,048.00
    • Lead $1,934.50
    • Nickel $21,824.00
    • Tin $26,650.00
    • Zinc $3,029.00

    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.

    Tristan Lal
    Originally from Canada, Tristan contributes daily breaking news to Mining.com.au. Tristan completed her Bachelor of Journalism in Queensland, Australia and has over 10 years experience writing on a range of topics including resources, medical, construction, and business.

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    • Delayed Prices (USD) - Last Updated 04-07-2022
    • Gold $1,812.90
    • Silver $19.91
    • Platinum $891.00
    • Palladium $1,882.00
    • Dalian Iron Ore i2209 $110.34
    • Aluminium $2,444.00
    • Cobalt $72,460.00
    • Copper $8,048.00
    • Lead $1,934.50
    • Nickel $21,824.00
    • Tin $26,650.00
    • Zinc $3,029.00