China Iron Ore Imports Rise on Expectations Prices May Gain
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China, the world’s biggest buyer of iron ore, boosted purchases by 6.8 percent in July as steelmakers start to replenish stockpiles on expectations seasonal demand for the raw material in autumn may lift prices.
Imports climbed to 54.55 million metric tons last month, compared with 51.09 million tons in June, according to China’s General Administration of Customs. That’s 6.4 percent higher than 51.28 million tons of a year earlier, according to data compiled by Bloomberg.