China’s Need for Iron Ore Pushes Up Volumes from Source Countries

摘要

China’s import volume of iron ore for the year is at a pace likely to exceed 1.1 billion tonnes annually. The economic activities resumed in the country after the 77-day-long lockdown in Wuhan was lifted on 8th April. The iron ore imports have been on a higher-than-expected increase since then. The postponed annual session of China’s National People’s Congress was held on 22nd May, where a strategy for expanding domestic demand was mentioned as a priority item. In response to this announcement by the government, the country’s per-day steel production marked a year-on-year (y/y) increase in late May.