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Does China’s Iron Ore Imports Rebound Bode Well for Prices?

Annie Gilroy
Does China’s Iron Ore Imports Rebound Bode Well for Prices?

China consumes more than 70% of seaborne-traded iron ore. It’s therefore imperative for iron ore investors to track the country’s demand and outlook to gauge iron ore’s 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, which also implies growth of 13.5% sequentially.