According to statistics from the General Administration of Customs of China, the country imported around 104 million tons of iron ore in July, down by 2% compared to the same month of last year. The average import prices were at US$91.41/ton, decreasing by 10.5% year-over-year.

The country’s imports of iron ore in the first seven months of this year amounted to around 696 million tons, down by 2% year on year.

Market participants said that the slight decrease in import volume and the decline in average price may reflect the decline in downstream demand and fluctuations in global mineral prices.