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 launched a new weekly price assessment for tungsten unwrought metal bar, 99.8% min W, spot price, CIF main ports Europe, US, Japan $ per kg on Friday May 29.
Fastmarkets will increase the frequency of the normalization coefficient used for its daily mid-grade iron ore indices from Tuesday June 2.
Fastmarkets is extending the consultation period for its proposed changes to the copper concentrates TC/RC index cif Asia Pacific and is also proposing the normalization of gold and silver payables within the index calculation.
Fastmarkets will launch a new weekly price assessment for tungsten unwrought metal bar, 99.8% min W, spot price, CIF main ports Europe, US, Japan $ per kg on Friday May 29.
Vingroup Corp subsidiary VinMetal and UK-based Primetals Technologies have signed a memorandum of understanding (MoU) on Thursday May 7 to cooperate on the development of VinMetal’s high-tech integrated steel complex in Vietnam’s Ha Tinh province, according to local media reports.
The publication of Fastmarkets’ assessments of the nickel min 99.8% full plate premium, in-whs Shanghai, and the nickel min 99.8% full plate premium, cif Shanghai for Tuesday May 26 were delayed because of a reporter error. Fastmarkets’ pricing database has been updated. The following prices were affected:MB-NI-0143 Nickel min 99.8% full plate premium, in-whs Shanghai, […]