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Combined Chinese Iron Ore, Coal and Soyabean Imports Surge to Record High

Coal, Grain, Iron Ore

Combined imports of iron ore, coal and soyabeans into China climbed to an all-time high of 148.8 Mt in July (+16.3 Mt year-on-year and +10.7 Mt from June), preliminary customs data show.

The rise was driven by iron ore surging by 21.6 Mt on the year to a record 112.6 Mt. Imports over the first seven months of 2020 rose to 659.8 Mt, increasing by 68.3 Mt year-on-year.

Meanwhile, total coal imports dropped by 6.8 Mt to 26.1 Mt last month. Nonetheless, annual gains in the first four months of the year helped boost year-to-date imports to 200.3 Mt (+12.9 Mt).

Soyabean imports rose by 1.5 Mt on the year to 10.1 Mt in July, the second highest level on record (after peaking in June), bringing the January-July total to 55.1 Mt (+8.2 Mt).