China’s April Iron Ore Imports Drop 11% on Rising Prices
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China, the world’s biggest iron ore buyer, cut purchases by 11 percent in April from the previous month as higher prices deterred purchases.
Imports were 52.88 million metric tons in April, down from 59.48 million tons in March, according to China’s General Administration of Customs. That’s 4.4 percent lower than a year ago, according to data compiled by Bloomberg.