Statistics

China Dec iron ore imports rise to 9-month high

(Agencies)
Updated: 2011-01-10 16:31
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China's iron ore imports gained 1.2 percent to a nine-month high in December as mills restocked on expectations prices may rise, Bloomberg reported, citing data from the General Administration of Customs.

Imports rose to 58.1 million metric tons in December, the highest since March, from 57.4 million tons in November.

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Prices for 62 percent-iron ore arriving at Tianjin Port rose to $172.6 a metric ton as of Jan 7, the highest since May 11, according to the Steel Index.

Chinese steelmakers are also replenishing stockpiles before the weeklong Lunar New Year holiday, which starts Feb 2, Bloomberg reported, citing UC361.com analyst Hu Kai.

China exported 2.85 million tons of steel products last month, the customs said. For 2010, exports gained 73 percent to 42.6 million tons.