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
Market participants are reporting significant disruption in shipping containers of metal scrap
The assessment was published at 3:58pm London time instead of the scheduled time of 4pm. The data submission window had already closed, and the data collection and price assessment were not affected by the early publication. MB-TI-0009 titanium dioxide pigment, sulfate grade, fob China, $ per tonne This price is a part of the Fastmarkets Industrial […]
The US aluminium market faces growing instability as ongoing tariff adjustments take a toll on cross-border trade with Canada. This article examines how uncertain policies are driving pricing risks, creating volatility in premiums, and forcing industry players to pause transactions.
The expansion of Section 232 steel tariffs is creating ripples across the US supply chain, affecting industries far and wide. From the escalating cost of raw materials to shifts in demand and production strategies, businesses are adjusting to the new realities of a tariff-driven market.
US steel tariffs have sparked strong reactions, reshaping global trade and leaving the steel market in flux. This article explores the key impacts of these tariffs on market trends, industry players, and trade policies. From policy goals to resulting uncertainties, gain insight into how these measures are influencing the future of steel and global markets.
The prices subject to this annual review are as follows:MB-IRO-0016 Iron ore 58% Fe fines high-grade premium, cfr QingdaoMB-IRO-0017 Iron ore 58% Fe fines high-grade premium index, cfr QingdaoMB-IRO-0015 Iron ore 58% Fe fines, cfr QingdaoMB-IRO-0021 Iron ore 62% Fe fines, % Al2O3 VIU, cfr QingdaoMB-IRO-0018 Iron ore 62% Fe fines, % Fe VIU, cfr QingdaoMB-IRO-0020 Iron ore 62% Fe fines, […]