China's iron ore imports fell to their lowest level in 20 months

Gold Ten Futures, April 14, according to foreign media reports, in March 2025, China's iron ore imports fell to the lowest level in 20 months, contrary to analysts' previous expectations. Previously, analysts expected that as the supply disruptions caused by weather factors gradually abated, the monthly import volume will pick up. According to data from the General Administration of Customs, China imported 93.974 million tons of iron ore in March, down 0.25% month-on-month, while in February due to supply disruptions caused by cyclones in major supplier Australia, China imported 94.21 million tons of iron ore. In addition, imports in March this year also fell by 6.7% compared with 100.72 million tons in the same period in 2024. March imports were well below analysts' forecasts of more than 100 million tonnes due to the ongoing impact of the February cyclone on early March shipments. In Quarter 1, 2025, China's iron ore imports fell 7.8% from a year earlier to 285.31 million tonnes. Port inventories fell 2.6% due to lower-than-expected imports. Analysts expect April iron ore imports to be between 100 million and 106 million tonnes as miners speed up shipments to ensure they meet annual targets .