Continue to climb China's iron ore imports in September to a 20-month high

According to data released by the General Administration of Customs, China's iron ore imports in September surged to 99.13 million tons, the highest level since January 2018, up 4.5% from 94.85 million tons in August, compared with 93.47 million tons in the same period last year. On the international side, Brazil and Australia's transport capacity continued to recover. In addition, non-mainstream ore shipments increased after the rise of iron ore prices, resulting in a significant increase in global iron ore shipments. Domestically, pig iron production has remained at a high level for a long time since this year, and iron ore demand has been relatively strong, while domestic ore increment is limited. Since the rebound of Brazilian and Australian shipments, iron ore imports have increased continuously in March since July, and iron ore stocks in ports have risen to the current four-and-a-half-month high since July.