China`s Iron Ore imports decline in Q1 2018

Mining News -However, the first two months of the year generally result in some distortions in the data, depending on the timing of the Lunar New Year. This year`s holiday fell entirely within February, resulting in weaker import numbers.

China`s iron ore imports of 270.5 million tonnes during the first quarter actually being 0.1 percent down from the same quarter last year.

In the January-March period last year, iron ore imports were up 12.2 percent from the same period in 2016.

It would appear that China`s vast steel sector may be taking a breather after several months of strong gains, and the build-up of iron ore inventories at ports to record levels in recent weeks probably has helped lower the appetite for imports.

However, copper is an area of strength in China`s first quarter, with imports of unwrought copper increasing 7.3 percent in the first quarter, a reversal of the decline of 20 percent experienced in the first three months of 2017.

However, it`s likely that some of this gain is due to a change in regulations, making it more difficult to import copper scrap and thereby boosting demand for the refined metal.