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
Osaka, Japan-headquartered Daikin Industries, the world’s largest air conditioner manufacturer, is partnering with Shin-Etsu Chemical, Hitachi and Tokyo Eco Recycle to recover and recycle rare earth magnets from compressors starting in 2027, the companies said in a joint statement on Tuesday April 14.
Fastmarkets has decided to change the PIX Pulp China BHKP Net assessment seller side weighting table.
China's planned sulfuric acid export ban from May 1, historic lows for copper concentrates treatment and refining charges (TC/RCs) and a fragmenting 2026 benchmark system dominated CESCO Week 2026 in Santiago from April 13-17.
Fastmarkets invited feedback from the industry on its pricing methodology and product specifications for ferrous metals, as part of its announced annual methodology review process. The consultation, which was open until April 2, sought to ensure that our methodologies continue to reflect the physical ferrous metals markets, in compliance with the International Organization of Securities Commission […]
Fastmarkets launches an antimony trioxide 99.5% Sb2O3 min, exw China price assessment on Friday April 17.
Fastmarkets is amending the publication time of its price assessment for antimony trioxide, exw China from April 17 to May 11, 2026.