China's iron ore imports fell last year

In 2022, China's total iron ore imports amounted to 1,107 billion tons, down 17.88 million tons or 1.59% year on year compared to 2021. Total import value was approximately US$ 128 billion, down 29.73% compared to the previous year.

In 2022, imports from Australia increased by 5.1%, while imports from Brazil decreased by 4.3%. The main reason for the increase in Australia was the move from abroad to China in the second half of the year. The main reason for the decline in Brazil was stated as Vale's blocked production capacity recovery.