China Iron Ore Imports Up 5.9 Per Cent In February

China's iron ore imports rose 5.9 percent in February to 49.38 million tonnes, according to data released by China's customs authority on Wednesday.

This was despite the Lunar New Year holiday and lingering concerns over rising spot prices, however January’s figure was down over 30 per cent over the December figure. Analysts expect March’s imports to reach a new high as demand recovers after slowing down over winter.

Stockpiles of iron ore in Chinese ports stood at 70.82 million tonnes, a rise of 5 per cent over the beginning of February.