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PrintBloomberg reported that Iron ore imports by China, the world biggest buyer of the raw material, rose for a second month on increasing demand from steelmakers.
The Beijing based customs office said imports jumped to 59.01 million tonnes last month. That’s up from 49.38 million in February.
According to the Steel Index prices for 62% iron ore have gained 40% this year as the global economy recovers and steel consumption gains. China International Capital Corp said order books are full at Baoshan Iron & Steel Co because of demand from automakers.
Mr Zhang Xiaogang chairman of Angang Steel Co said imports of iron ore by China soared 42% to a record 628 million tonnes last year as steel production reached a high. China, the world largest steelmaker may add 50 million tonnes of steel capacity this year
Customs said exports of steel products were 3.33 million tonnes in March. Total exports in first three months jumped 70% to 8.71 million tonnes.
Sourced from Bloomberg
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