China’s iron ore imports hit a record high in September
China’s iron ore imports in September rose 10.6% from the previous month and hit a one-month record high, as rising demand and higher prices encouraged miners to increase shipments.
The world’s largest iron ore consumer brought in 116.33 million metric tons of the key steelmaking ingredient last month, staying above 100 million tons for the fourth month in a row, data from the General Administration of Customs showed on Monday.
September volumes, which beat analyst expectations of between 100 million and 106 million tonnes, were up from 105.22 million tonnes in August and also 11.7% higher than 104.13 million tonnes in the same month in 2024.
Prices of the key steelmaking ingredient have strengthened and held above the psychological $100 a tonne level since July, a level that could encourage high-cost miners to increase deliveries, analysts said.
Average iron ore prices (SH-CCN-IRNOR62) rose 5.3% in July compared with the previous month, then rose 2.5% in August and 3.6% in September, data from consultancy Steelhome showed.
The increase reflects increased confidence in the steel sector stemming from Beijing’s pledge to crack down on involutionary competition, or competition so fierce that it is self-defeating, in an industry struggling with overcapacity.
Demand from top iron ore consumer China also increased after some mills resumed production following restrictions for military parades in early September.
Average daily hot metal production, usually a measure of ore demand, rose to 2.42 million tonnes at the end of September, from 2.4 million tonnes at the end of August, data from consultancy Mysteel showed.
In the first three quarters of 2025, China’s iron ore imports amounted to 917.69 million tons, the average compared to last year.
“Underlying strong ore imports last month was stronger steel demand at home and abroad,” said Ge Xin, deputy director at consultancy Lange Steel.
STEEL EXPORTS AT RECORD HIGH
China’s steel exports in September rose 10% from August to a four-month high of 10.47 million tons, defying expectations that a protectionist backlash against China’s cheap steel would reduce overseas shipments.
Exports in the first nine months of the year jumped 9.2% and reached a record high for the period of 87.96 million tonnes, keeping total annual exports on track for an all-time high.
Source: Reuters
