Chinese Iron Ore, Coal and Soyabean Imports Grow in 2020

Coal, Grain, Iron Ore

Marking the strongest rise since 2014, Chinese iron ore imports jumped nearly 100 Mt year-on-year to a record 1,170.4 Mt in 2020, customs data show. Annual growth in the full year was realised even as receipts in December declined 4.6 Mt to 96.7 Mt, although this was still the second strongest December total on record.

Meanwhile, the country’s total coal imports (including lignite) gained 4.2 Mt to 304.1 Mt last year, the highest since 2013. Imports surged to a record 39.1 Mt in December from less than 3 Mt in the same month of 2019.

Soyabean receipts rose to a new peak of 100.3 Mt in 2020 (+11.7 Mt), despite December imports falling 2.0 Mt to 7.5 Mt.