Posted on 30 Jun 2008
China`s iron ore imports surge in Jan.-April as price hikes loom
China's
iron ore imports surged during the first four months of this year as users
sought to avoid anticipated higher costs, official figures show.
From January to April, China imported 150 million tonnes
of iron ore, up 15.1 per cent year-on-year, Customs said Thursday. The arrivals
were valued at US$19.87 billion, up 110 per cent year-on-year.
Importers expected new agreements with suppliers to mean
higher prices. They also expected higher export duties in major source
countries, such as India,
and rising shipping costs. Australia,
India and Brazil remained the top three sources of China's
iron ore imports, accounting for 83 per cent of the total.
