Robust Chinese Trade In March
March saw an almost 10 Mt of annual growth in Chinese iron ore imports to a 15-month high of 95.6 Mt, a mere 0.7 Mt lower than the all-time high of December 2015, preliminary customs data show. This took 1q imports to 271.1 Mt, up 30.0 Mt year-on-year.
China’s coal imports (incl. lignite) rose annually for the eighth consecutive month to 22.1 Mt in March, resulting in an annual increase of 16.2 Mt to 64.7 Mt in the 1q.
Meanwhile, the country’s steel exports in March totalled 7.6 Mt, leaving the 1q total of 20.7 Mt some 7.1 Mt below the year-ago level.
There was also an annual gain of 3.3 Mt in 1q soyabean imports to 19.5 Mt.