| Date: |
22-07-2010 |
| Subject: |
China's June ore imports from India drop 21 percent |
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China's iron ore imports from India in June stood at 8.29 million tonnes, down 21 percent month on month as a result of lukewarm demand and supply disruptions brought about by the Indian monsoon season, customs data showed on Wednesday.
Indian ports traditionally ban the loading of iron ore fines during the June-September monsoon season, saying the ships run the risk of sinking as the powders gain moisture and weight in the torrential rain.
China's total iron ore imports fell 14.66 percent month on month to end at 47.17 million tonnes in June, as its steel industry braces for falling demand during the third quarter of the year.
According to China's customs authority, imports from Brazil reached 8.42 million tonnes in June, up by about 1 percent since May, when the country's biggest producer Vale (VALE5.SA: Quote) was beset by supply bottlenecks.
Ores sourced from Australia reached 21.03 million tonnes, down 6 percent since May.
Imports from India, Brazil and Australia combined fell 8.5 percent over the month to 37.75 million tonnes. They accounted for 80 percent of the total, up from 79.5 percent in May.
China's steel product imports continued to recover in June, reaching 5.62 million tonnes, up nearly 14 percent compared with May. Exports of pig iron soared 50 percent to reach 150,000 tonnes. (Reporting by David Stanway and Ruchira Singh; Editing by Chris Lewis)
Source : af.reuters.com
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