According to the report, on July 14, the General Administration of Customs announced the import situation of iron ore in June. Due to the increase in the shipment of overseas miners, the import volume had a strong breakthrough of 100 million tons. According to the data, in June 2020, China imported 1106.8 million tons of iron ore, with a month on month increase of nearly 17% and a year-on-year increase of 35%, which is the highest monthly import level since October 2017.
From the main import destinations, Australia and Brazil expanded their iron ore exports to China in June. According to the data, Australia's iron ore export volume in June increased by 7% compared with May's 43.18 million tons, and 10% higher than that of the same month last year. Among them, the export volume of iron ore from Port Hedland to China increased by 10% to 46.2 million tons, the highest monthly record. Brazil's export volume of iron ore to China was 22.777 million tons, an increase of 5.953 million tons or 35%, and an increase of 7.785 million tons, or 52%.
In recent years, thanks to the rapid development of China's economy, the rapid growth of domestic steel consumption, the rapid expansion of crude steel production, thus driving the vigorous demand for iron ore in China. According to the data, in June 2020, China's crude steel output was 91.58 million tons, with a year-on-year increase of 4.5%; from January to June, the cumulative output was 499.01 million tons, with a year-on-year increase of 1.4%.
The increase in demand has driven the increase in output at the same time. According to the data, China's iron ore output increased in May 2020, reaching 74.642 million tons in May 2020, with a year-on-year increase of 8.1%; the cumulative output from January to May was 336.961 million tons, with a year-on-year increase of 4.1%.
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