China’s iron ore imports from India rose nearly 90 per cent in 2020, with purchases from Australia and Brazil also up

Australian shipments rose 7 per cent to 713 million tonnes, while Brazilian supplies were up 3.5 per cent at 235.7 million tonnes

China imported 44.8 million tonnes of iron ore from India last year, compared with the 23.8 million tonnes bought in 2019, and the most in nine years

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China churned out a record 1.05 billion tonnes of crude steel in 2020, with demand boosted by Beijing stimulus for infrastructure. Photo: AFP

Published: 5:24pm, 20 Jan 2021Updated: 5:28pm, 20 Jan 2021

Australia and Brazil, the world’s two largest iron ore producers, remained China’s top suppliers in 2020, but imports from India soared 88 per cent as Chinese mills diversified sources amid sky-high raw materials prices.

Australian shipments rose 7 per cent to 713 million tonnes, while Brazilian supplies were up 3.5 per cent at 235.7 million tonnes, data from China’s General Administration of Customs showed on Wednesday.

“The two countries’ rise could not fully meet China’s demand,” said Tang Chuanlin, analyst with Citic Securities, “Mills had to buy from other countries.”

The world’s top steel producer imported 44.8 million tonnes of iron ore from India last year, compared with the 23.8 million tonnes bought in 2019, and was the most in nine years.

China churned out a record 1.05 billion tonnes of crude steel in 2020, with demand boosted by Beijing stimulus for infrastructure.

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