Strong Growth in Chinese Major Dry Bulk Imports in May
Coal, Grain, Iron Ore, Steel
After a weaker month for shipments in April, Chinese iron ore imports rebounded to 91.5 Mt in May, up by 4.8 Mt year-on-year, customs data show. Shipments have now risen in four of the last five months, leaving imports in January-May up by 32.6 Mt on the same period last year at 444.8 Mt. By contrast, the country’s steel exports continued to fall in May, declining by 2.4 Mt to 7.0 Mt.
Meanwhile, China’s coal imports (incl. lignite) rose on an annual basis for the tenth consecutive month in May, climbing 3.2 Mt to 22.2 Mt. At 111.7 Mt, the country’s coal imports in January-May were up by 25.4 Mt year-on-year. There was also further strong growth in soyabean imports, which climbed to a monthly all-time high of 9.6 Mt, up by 1.9 Mt year-on-year.