According to data from the General Administration of Customs, from January to March 2023, China imported a total of 294.335 million tons of iron ore, a year-on-year increase of 9.8%, with an average import price of 110.6 US dollars per ton, a year-on-year decrease of 12.0%. However, it is worth noting that in March of this year, the volume and price of imported iron ore in China increased simultaneously, reaching 100.229 million tons of iron ore in a single month, a year-on-year increase of 14.8%. The average import price was 117.7 US dollars per ton, an increase of 11.43 US dollars per ton or 10.76% compared to the average price from January to February this year.
According to Reinitiv ship tracking data, China's iron ore shipments in March increased by 14% year-on-year, reaching 94.17 million tons, of which approximately 86% came from Australia and Brazil. In addition, iron ore from India surged by 84% to 2.68 million tons.
From the supply side, the shipment volume from Australia to Brazil in the first quarter of this year has increased compared to last year, with Australia increasing by 18% year-on-year and Brazil increasing by 14% year-on-year. Among them, the total shipment volume from Australia (to China) in March was 76.489 million tons, an increase of 38.6% year-on-year; The total shipping volume of Brazil is 31.945 million tons, an increase of 38.4% year-on-year.