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China's iron ore imports down 7.9% MoM in Aug

Sep. 11, 2012 (China Knowledge) - China, the world's largest steel maker, imported 62.45 million metric tons of iron ore and concentrate in August this year, reflecting a growth of 7.9% from July, according to the latest statistics released by the General Administration of Customs.

The iron ore imports last month represented an increase of 5.7% YoY. The average import price declined 3.69% MoM to US$129.83 per metric ton in August, the lowest level since June 2010.
In the first eight months of this year, the country's iron ore imports rose 8.7% YoY to 486.05 million metric tons, while the import value fell 5.9% to US$50.80 billion, and the average import price fell 16.48% YoY to US$137.6 metric ton.

China's output of crude steel fell 1.7% YoY to 58.7 million metric tons in August.

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