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.

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.
• That was down from 112.69 million tons in June, but up 5.9% from 104.62 million tons in the same month in 2025, standing above 100 million tons for a fifth month so far this year.
• Iron ore demand contracted last month as reflected in falling hot metal output, which was down 1% month-on-month in July as per data from consultancy Mysteel.

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.