INFOGRAPHIC: China imports more iron ore in 2020 despite Covid-19

China bucked the trend among major iron ore importers by continuing to increase its purchases of the steelmaking raw material from abroad in 2020.

The country imported 1.17 billion tonnes of the iron ore last year, an increase of 9.4% compared with 2019.

European Union countries collectively accounted for the largest decrease among major iron ore importers, with purchases tumbling 20.8% year on year to 105.19 million tonnes.

Japan also imported 16.8% less iron ore in 2020, as did South Korea, which reported a 5.7% drop.

Click to enlarge

Join our industry experts for an exciting forward look into Asia’s evolving steel market at the Singapore Steel Forum on July 14. Register today at https://events.fastmarkets.com/singapore-steel-forum

What to read next
Fastmarkets has corrected its MB-IRO-0010, iron ore 62.5% Fe Australia-origin lump ore premium, cfr Qingdao, which was published incorrectly Monday March 23 due to a typographical error.
Fastmarkets has corrected its copper concentrates treatment and refinement charge indices, which were published incorrectly on March 20 2026 due to a technical error.
Technological advances, policy support and downstream decarbonization efforts are accelerating the shift toward lower-emission ferro-alloys in China. The industry, however, continues to grapple with the challenge of securing price premiums for green materials despite significant investments in new smelting technologies and sustainable supply chains.
Fastmarkets launched three new rare earth prices on Thursday March 19 to cover the global market outside of China to improve transparency in the rare earths magnet supply chain.
Fastmarkets has corrected its copper concentrates treatment and refinement charge indices, which were published incorrectly on February 27 2026 due to a backend calculation error. Fastmarkets has also corrected the indices' rationale and all related inferred indices.
The global tungsten market in 2026 is marked by extreme volatility driven by geopolitical tensions, trade disputes, and resource nationalism, especially between China and the US. These dynamics have caused significant supply disruptions and price surges across tungsten products.