In the January-September period this year, China imported 876.651 million mt of iron ore, up 6.7 percent year on year, as announced by the Chinese customs authorities on October 13.
In September alone, China imported 101.184 million mt of iron ore, up 1.5 percent year on year, while decreasing by 4.9 percent month on month.
Import iron ore prices moved up first in the given month, while edging down since September 15 amid decreasing iron ore futures prices. Ahead of the long National Day holiday, stock replenishments of iron ore were not as good as had been expected, which exerted a negative impact on iron ore prices.
Currently, inventory of iron ore at Chinese ports is lower compared to before the holiday, bolstering the iron ore market to a certain degree. At the same time, though some steelmakers in northern China are heard to be implementing maintenance works, molten iron output is still at relatively high levels, also providing support for iron ore prices. It is thought that import iron ore prices may fluctuate within a limited range in the coming week.