China’s iron ore purchases from Brazil increase by 1 pct in January/February

24 March 2014

Imports of iron ore by China from Brazil totalled 26.72 million tons in January and February of this year. This amount is a rise of 1 percent year on year, according to figures published Friday by China’s customs service.

Overall, in the first two months of the year Chinese companies imported 148 million tons of iron ore, which was 21.8 percent more year on year. Imports from Australia rose by 34.4 percent to 77.4 million tons.

In February alone Chinese imports of iron ore from Brazil fell by 18.4 percent to 11.18 million tons, whilst those from Australia rose by almost 27 percent to 32 million tons.

Last month, total imports into China were 61.2 million tons, or 8.8 percent more year on year.

The price of imported iron ore in February, of US$129.12 per tons, was below the January average of US$130.73 per ton. (macauhub)