According to Customs data, imports of iron ore and concentrate reached 385 million mt in the first four months of 2023, an increase of 8.6% over the same period last year. Imports of iron ore and concentrates reached 90.44 million mt in April, up 5.1% from the same month last year. – CHINA
A hurricane in the middle of April had an impact on shipments from Australia regarding the global supply.
Steel mills’ eagerness for acquisition in April was somewhat impacted by the declining domestic downstream steel demand.
Overall, April’s iron ore import volume was lower than March’s. According to Shree Metal Prices, 8 blast furnace will undergo maintenance while 10 blast furnace are anticipated to start production in May.
As international mines scramble to complete deliveries to fulfil their mid-year sales targets, the global supply will gradually increase. As a result, Shree Metal Prices anticipates an increase in iron ore imports in May.