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China Leading Iron Ore Imports in 2023

September 5, 2023

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.

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