Chinese iron ore imports in the first two months of 2025 fell 8.4% from the same period the previous year, being restrained by disruption in the weather in the main Australian producer.
The largest iron ore consumer in the world carries 191.36 million tons of main steel making material during January and February, customs data shows on Friday.
The number works until the average monthly 95.68 million tons. That was compared with 112.49 million tons in December and a monthly average of 103.2 million tons in 2024.
China combines imported data for January and February to eliminate the impact of the Lunar New Year holiday for a week, time that changes every year.
The annual decline is mostly due to disruption of supply related to the weather in large Australian suppliers, said Shan Peng Analyst at the Chinese trading company Base Ningbo Group.
“But the total volume of around 10 million tons is higher than our previous estimate, maybe because miners increase shipping after the cyclone effect is backward,” Shan added.
A survey from Reuters in February shows that analysts are expected to see an annual decline at least 10% for January and February.
Operations in the Main Iron Ore Hub Western Australia – Port Hedland and Dampier – have been suspended because of Typhoon Zelia, the most severe typhoon since April 2023.
Rio Tinto Rio, the largest iron ore producer in the world, expects the loss of 13 million tons of iron ore from the typhoon that has hit the western coast of Australia and interfere with the delivery of iron ore this year.
Chinese iron ore imports in March are likely to reach 100 million tons when miners increase shipping to reach quarterly and annual targets after the typhoon interferes with shipping in the previous two months, the analysts said.
Chinese steel exports during January-February rose 6.7% from the previous year to 16.97 million tons, customs data showed.
Steel imports in the first two months dropped 7.2% of the years to years to 1.05 million tons.
Source: Reuters
