Сhina’s iron ore imports have increased so far in 2023, helping sustain dry bulk market rates. In its latest weekly report, shipbroker Banchero Costa said that “2023 has been so far a positive year for global iron ore trade. In Jan-Jul 2023, global loadings of iron ore increased by +3.9% y-o-y to 892.6 mln tonnes, from 859.1 in the same period of 2022, based on Refinitiv vessel tracking data. It is also just above the 883.5 mln tonnes loaded in Jan-Jul 2021, which was the last all-time record. Exports from Australia increased by +2.4% y-o-y in Jan-Jul 2023 to 522.5 mln tonnes, easily a new all-time record high.
