In the initial months of 2025, China experienced an 8.4% decline in iron ore imports compared to the previous year, attributed mainly to weather-related disruptions in Australia, a major supplier. According to customs data released on Friday, China imported a total of 191.36 million metric tons of iron ore during January and February, averaging 95.68 million tons monthly.
This figure is a decrease from December’s average of 112.49 million tons and the monthly average of 103.2 million tons recorded in 2024. China consolidates its import statistics for January and February to mitigate the effects of the Lunar New Year holiday, which varies year to year.
Analyst Shan Peng from China Base Ningbo Group notes that the annual decline is primarily due to weather-related supply issues in Australia. However, he mentioned that import volumes exceeded earlier forecasts by approximately 10 million tons, possibly because miners increased shipments after the impact of cyclones subsided.
The existing challenges were exacerbated by operations halting at major iron ore ports in Western Australia, such as Port Hedland and Dampier, due to cyclone Zelia, which was noted as the most severe cyclone since April 2023. Rio Tinto, the world’s largest iron ore producer, anticipated a loss of about 13 million tons from these cyclonic disruptions affecting shipments this year.
Looking ahead, analysts expect that China’s iron ore imports in March could exceed 100 million tons, as mining companies are expected to ramp up their shipments to meet quarterly and annual targets following the previous disruptions. Additionally, customs data revealed that China’s steel exports rose by 6.7% year-on-year during January-February, reaching 16.97 million tons, while steel imports saw a decrease of 7.2% to 1.05 million tons in the same period.