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Tuesday, March 13, 2012

China iron ore imports in Feb up by 34pct YoY

Tuesday, 13 Mar 2012

China Knowledge quoted according to the latest statistics released by the General Administration of Customs said China, the world largest iron ore importer and steel maker saw its iron ore import surged 33.6%YoY to 64.98 million tonnes in February this year.

The iron ore imports last month reflected a 9.5% increase from the previous month. In the first two months of this year, the country iron imports rose 5.7%YoY to 124.26 million tonnes.

The average import price of iron ore dropped 12.9%YoY to USD 136.4 per tonne in two-month period.

According to figures from the China Iron and Steel Association the 80 large and medium sized steel enterprises in China suffered a loss of CNY 2.32 billion in January this year whereas they made profit of CNY 7.91 billion in the same month of last year.

Sourced - China Knowledge

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