China July iron ore imports slide from June as thinning steel margins curb appetite

"Global iron ore shipments dropped last month following a ramp-up in June to meet quarterly targets, contributing to China's lower imports last month," said Cody Wang, an analyst at consultancy Steelhome.

"Also, domestic steelmakers were cautious about iron ore procurement in July when steel margins continued shrinking," Wang said.

Only around a third of steelmakers were operating at a profit by end-July, versus a half in late June, Mysteel data showed.

In the first seven months of 2026, China's iron ore imports totalled 736.84 million tons, an annual increase of 5.9%, according to the data.

China's iron ore imports are set to rise for a third consecutive year in 2026, as steelmakers buy more to compensate for declining iron content and as Guinea's Simandou project boosts supply, said analysts.

China's steel exports in July slipped 1.9% from the prior month to 10.12 million tons, as domestic supply contracted and as overseas buying diminished.

The July volume was, however, up 3% from the prior year.

Steel exports totalled around 65 million tons between January and July, down 4.4% year-on-year.

China's iron ore imports in July slipped by 4% from the prior month, as some domestic steelmakers began equipment maintenance amid shrinking steel margins, curbing appetite for the key steelmaking ingredient.

• The world's largest consumer of the raw material brought in 108.09 million metric tons of iron ore in July, data from the General Administration of Customs showed on Friday.