Why did iron ore imports decline sharply in the peak season in March? It is expected to increase obviously in April.

According to the data from the General Administration of customs, China imported 87.283 million mt of iron ore and concentrate in March 2022, a month-on-month increase of 1.56% and a year-on-year decrease of 14.52%. From January to March 2022, the iron ore and concentrate imports totalled 268.36 million mt, a year-on-year decrease of 5.2%. March is the traditional peak season of steel production. However, China’s iron ore demand has decreased significantly due to multiple factors.