Mar. 12, 2012 (China Knowledge) - China, the world's largest iron ore importer and steel maker, saw its iron ore import surged 33.6% year on year to 64.98 million metric tons in February this year, according to the latest statistics released by the General Administration of Customs
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's iron imports rose 5.7% year on year to 124.26 million metric tons.
The average import price of iron ore dropped 12.9% year on year to US$136.4 per metric ton in two-month period.
The 80 large- and medium-sized steel enterprises in China suffered a loss of RMB 2.32 billion in January this year, whereas they made profit of RMB 7.91 billion in the same month of last year, according to figures from the China Iron and Steel Association.