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China's iron ore imports set record amid Australian boost
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Posttime:2021-09-13
CHINA's imported iron ore, worth a record US$20 billion in August, likely boosted Australia's exports despite the tensions between the two nations, reports Bloomberg.
Total volumes were 97.5 million tons. It was also a record month for the value of China's imports from Australia, with Australian miners supplying 60 per cent of China's demand.
The news comes while China is blocking or limiting various Australian exports in retaliation for diplomatic slights.
Some of the increase in imports is likely due to the improvement in shipments from Brazil since July and rising inventories.
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