The lower imports of some strategic industrial metals to China are due to their significant increase in prices in recent months. Once the situation on world markets calms down, Chinese demand should start growing again.
In June, the volume of iron ore imports into China reached its lowest level in 13 months. Compared to May, it decreased by 0.4 percent to almost 89 million tons, which represents a year-on-year decrease of 12.1 percent. Overall, however, imports of this commodity to China in the first half of this year increased by 2.6 percent year on year to more than 560 million tons.
In monetary terms, however, iron ore imports to China increased by almost 72 percent year on year. According to analysts, a significant increase in the price of this raw material caused the June month-on-month decline.
A similar development occurred in the case of copper. China imported less than 430,000 tons in June, which was less than four percent less than in May and more than a third less than in June last year. Unlike iron ore, copper imports into China were weaker throughout the first half of this year, by 1.6 percent year on year. However, according to analysts, Chinese demand should resume in the second half of the year after price pressures in the markets eased.
