Via AGMetalminer.com If iron ore is in the news, can China be far behind Contrary to earlier predictions, China may end up importing a record consignment of iron ore this year. With the global iron ore price fluctuating, this could have widespread ramifications. A recent Reuters report quoted market analysts as saying that China’s ore imports this year may touch an all-time high.
42% higher, at about U.S. $123 888 yuan a metric ton. Breaking Down the Sudden Demand for Indian Ore There seems to be a new-found love for low-grade ore from India, especially among the Chinese. In fact, India set a new record for the export of iron ore in 2023. Now comes news that about 92% of iron ore exports from India for the 11 months of FY24, amounting to about 40 million tons, went directly to China.