In March 2013, China imported 15% more iron ore than in February

Import of iron ore main consumers in China grew by 14.4% in March 2013 compared to the previous month. This, on the basis of customs statistics, reports Reuters.

Compared to last March, iron ore imports in China grew by 2.7% and amounted to 64.5 million tons. At the same time, the total volume of imports of iron ore raw materials for the first quarter of 2013 remained at the same level as in January - March 2012.

Meanwhile, since the beginning of March, the average daily increase in iron ore supply has not exceeded 3%, which indicates slow -down demand. "China metallurgical plants were very careful in the import of iron ore, because the demand for steel against the market expectations did not recover in the first quarter, and the reserves of the metal rolling in warehouses are still at a high level of 20-21 million tons," says Helen Lau Analyst Uob-Kay Hian.

Import of iron ore to China, as market experts expect, will be at the coming months at the level of 60 - 65 million tons, since metallurgical companies purchase raw materials “reserve” without leaving hope for a revival of demand for metal rolling.

Steel plants in China crossed the line of 2 million tons of average daily production of steel in mid -February of this year and still continue to increase production volumes.

However, record reserves became in the warehouses of Chinese traders will soon force factories to reduce the smelting only if an abnormal increase in demand does not suddenly happen.