China’s iron ore imports jumped 9.5% to hit a record high in 2020 from a year earlier, buoyed by the world’s top steel producer’s massive infrastructure drive to spur economic recovery during the coronavirus pandemic. China ramped up spending on infrastructure and increased manufacturing.
Record imports since 2017
According to the data from the General Administration of Customs on Thursday, China imported 1.17 billion tonnes of iron ore in 2020 compared to the annual imports of 1.069 billion tonnes in 2019. The previous import record was 1.075 billion tonnes set in 2017.
Monthly imports dip
Customs reported that the iron ore imports dipped 1.4% in December from a month earlier, to 96.75 million tonnes. The imports dropped by 4.5% compared to December 2019.
