UPDATE 1-China iron ore imports fall 1.9% in September from August -customs

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BEIJING, Oct 13 (Businesshala) – China’s iron ore imports in September fell 1.9% from a month earlier, official customs data showed on Wednesday, as environmentally-related steel production controlled consumption of steelmaking raw materials.

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The world’s largest iron ore consumer imported 95.61 million tonnes of steelmaking material last month, compared to 97.49 million tonnes in August and 108.55 million tonnes in September 2020, data from the General Administration of Customs showed.

According to the customs office, in the first three quarters of the year, China brought in 842 million tonnes of iron ore, down 3% from the same period a year ago.

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Tighter production controls at mills in China have dented demand as Beijing aims to cap annual crude steel production. The recent power shortage across the country also affected factory activities.

“Steel production will continue to be halted during the summer season and the Winter Olympics. It would be difficult to see any increase in domestic iron ore consumption,” analysts at Huatai Futures said in a note ahead of the data release.

China’s steel product exports in September stood at 4.92 million tonnes, down 2.57% from the previous month, customs data showed, sending its exports to 53.02 million tonnes for the first nine months.

According to the data, last month steel imports increased by 18.16 per cent from August to 1.26 million tonnes. The country’s January-September steel imports stood at 10.72 million tonnes.

Global iron ore shipments picked up last month. Export from Port Hedland, Australia Here China rose 7.6% month-on-month to 38.62 million tonnes in September, data from the Pilbara Ports Authority showed. (Reporting by Shivani Singh, Min Zhang and Beijing Newsroom; Editing by Christopher Cushing)

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