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China’s Steel Production Supported Iron Ore Prices in H1 2018

Annie Gilroy
China’s Steel Production Supported Iron Ore Prices in H1 2018

It’s important for iron ore investors to track the demand patterns in China since it consumes more than 70% of seaborne-traded iron ore (COMT). In this part of the series, we’ll look at iron ore imports and Chinese steel production and assess its future outlook. After increasing by 0.8% YoY (year-over-year) in April, China’s iron ore imports grew 2.9% YoY to 94.1 million tons in May, which is an increase of 13.5% sequentially.