Recently, China Customs announced that China imported 44.6 million tons of iron ore in August, down 10.2% year-on-year. From January to August this year, imported iron ore reached 405 million tons, an increase of 0.1% year-on-year. China's iron ore imports have fallen for five consecutive months since April.
Beginning in September, Jiangsu, Zhejiang, Hebei and other provinces imposed mandatory power cuts or increased power prices for steel producers that did not meet energy consumption standards. Many steel companies were forced to cut production or even stop work. Zhou Wei, an analyst at Lange Steel Research Center, believes that in the coming months, China's monthly average import demand will continue to shrink.
Beginning in September, Jiangsu, Zhejiang, Hebei and other provinces imposed mandatory power cuts or increased power prices for steel producers that did not meet energy consumption standards. Many steel companies were forced to cut production or even stop work. Zhou Wei, an analyst at Lange Steel Research Center, believes that in the coming months, China's monthly average import demand will continue to shrink.
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