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.