China's April iron ore imports rise 13% m/m on firm demand - Rtrs calcs
BEIJING, May 7 (Reuters) - China’s iron ore imports rose 13% in April from a month earlier on robust demand from steelmakers as downstream sectors started to emerge from lockdowns aimed to containing the coronavirus epidemic.
Arrivals of the key steelmaking ingredient stood at 97.27 million tonnes last month, according to Reuters calculations based on data from the General Administration of Customs.
That compares with imports of 85.91 million tonnes in March and 80.77 million tonnes a year earlier, when shipments from Brazil’s top miner Vale SA were disrupted after a tailings dam disaster.
“On a monthly basis, imports jumped as shipments from big miners were typically lower in the first quarter due to seasonal factors like weather conditions,” said Zhao Yu, an analyst with Huatai Futures.
Vessel-tracking and port data from Refinitiv showed arrivals of iron ore in April from Australia jumped 12% on a month earlier, while imports from Brazil rose 10%.
The spreading pandemic has forced some steel producers in Asia to cut output in response to deteriorating demand.
