According to the statistics of the General Administration of Customs on the 10th, the iron ore imports in May showed a sharp recovery from the same period of last year. The import of iron ore in the same month was 63.84 million tons, up 19.8% year-on-year; the month-on-month increase was 6.15 million tons, up 10.7% from the previous month. According to customs statistics, from January to May, China's iron ore imports were 30.82 million tons, an increase of 9%. While the import of iron ore increased, the import price continued to decline. The average price of iron ore imports from January to May was Tonnes were $138.4, down 13.9%. Since the middle of April, the steel market has continued to fluctuate and fell. In the case of the downturn in the steel market, imported iron ore has not risen and risen, indicating that most steel mills have limited plans for maintenance and reduction; from the comparison between steel and iron ore In the case of the overall weakness of the steel market, the price of iron ore is still relatively strong relative to the price of steel, which is mainly related to the increase in the number of iron ore imports. In addition, on June 10, China Iron Mine's strong competitor, Singapore Iron Ore Spot Trading Platform GlobalORE (referred to as Singapore Iron Ore Platform) announced that Baosteel, Minmetals and Valin have become the founding shareholders.
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