AUD Bullish: China iron-ore imports rebound from 10-month lows in March
According to data from the General Administration of Customs, the demand for iron-ore from the Chinese importers picked-up pace and jumped sharply in March after it hit a 10-month low in February.
It’s worth noting that iron-ore is Australia’s top export product and China is the world’s biggest consumer of the ferrous metal.
Key Details:
“For the first quarter of 2019, China brought in 261 million tonnes of iron ore, the data showed, down 3.5 percent from 270.4 million tonnes in the same period last year.
Arrivals of the steelmaking raw ingredient came in at 86.42 million tonnes in March, according to data from the General Administration of Customs.
That was up from 83.08 million tonnes in February and also up on 85.79 million tonnes in March last year.”
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
