By Amy Lv and Lewis Jackson
BEIJING (Reuters) -China’s iron ore imports in September climbed 10.6% from the month before to hit a record high for a single month, as improving demand and higher prices spurred miners to step up shipments.
The world’s largest iron ore consumer brought in 116.33 million metric tons of the key steelmaking ingredient last month, staying above 100 million tons for a fourth straight month, data from the General Administration of Customs showed on Monday.
The September volume, which beat analysts expectations of between 100 million and 106 million tons, was up from 105.22 million tons in August and also was 11.7% higher than 104.13 million tons in the corresponding month in 2024.
Prices of the key steelmaking ingredient have gained ground and stayed above the key psychological level of $100 a ton from July, a level that could encourage high-cost miners to ramp up shipments, said analysts.
The average price for iron ore rose by 5.3% in July from the previous month, and then climbed 2.5% in August and 3.6% in September, data from consultancy Steelhome showed.
The gains reflected improved confidence in the steel sector stemming from Beijing’s pledge to crack down on involution-style competition, or competition so fierce that it is self-destructive, in an industry battling overcapacity.
Demand in top iron ore consumer China also rose after some mills resumed production following curbs for a military parade in early September.
The average daily hot metal output, typically a gauge of ore demand, climbed to 2.42 million tons by end-September, from 2.4 million tons in late August, data from consultancy Mysteel showed.
In the first three quarters of 2025, China’s iron ore imports totalled 917.69 million tons, flat year-on-year.
“Underpinning robust ore imports last month was also stronger steel demand at home and abroad,” said Ge Xin, deputy director at consultancy Lange Steel.
STEEL EXPORTS AT RECORD HIGH
China’s steel exports in September rose by 10% from August to a four-month peak of 10.47 million tons, defying expectations that a growing protectionist backlash on cheap Chinese steel would lower outbound shipments.
Exports in the first nine months of the year jumped 9.2% to hit a record high for the period at 87.96 million tons, keeping the annual total on track for an all-time high.
(Reporting by Amy Lv and Lewis Jackson; Editing by Sonali Paul)
