Demand for steel raw materials increased in the first half of the year, a large number of imported iron ore in Inner Mongolia

Since the beginning of this year, iron ore imports in Inner Mongolia have grown strongly.

According to Hohhot Customs statistics, in the first half of the year, Inner Mongolia imported 2.538 million tons of iron ore, a year-on-year increase of 59.4%, and the value of goods was 230 million US dollars, an increase of 109.1%. The main reason is that with the rapid development of domestic automobile and infrastructure construction, the demand for steel raw materials is rising, which has affected the growth of iron ore imports in the autonomous region. Since the beginning of this year, due to the increase in international iron ore prices, the price of imported iron ore in the region has shown an upward trend. The average import price in the first six months was US$92/ton, up 29.6% year-on-year. The rise in prices prompted a sharp increase in trade value.

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