Chinese imports over 100 million tonnes of iron ore in September

China’s iron ore imports leapt 16pc in September, breaching the 100m tonne mark for the first time in a single month.

Iron ore being loaded on to the Pacific Ruby at Rio Tinto's Cape Lambert port in the Pilbara.

China’s monthly imports of iron ore breached the 100 million tonne mark for the first time ever in September, according to official trade data released today.

The world’s largest steel producer said imports of the steelmaking ingredient leapt almost 16 per cent to 102.83 million tonnes in September, taking the year-to-date volumes to over 815 million tonnes and putting the country on track to import more than 1 billion tonnes over the course of the calendar year.

China’s imports have been growing at a double-digit pace since January, with imports of all products from Australia leaping over 40 per cent in the first nine months of the year to more than $US70bn, according to the country’s General Administration of Customs.

China’s exports grew for a seventh straight month in September, on continued strength in external demand for goods from the world’s second-largest economy.

Exports increased 8.1 per cent in September compared with the same period a year earlier, following 5.5 per cent growth in August, China customs said.

A poll of economists by The Wall Street Journal had forecast the value of shipments overseas would grow 10 per cent.

Imports in September expanded 18.7 per cent from a year earlier, compared with a 13.3 per cent gain in August. The rise beat the poll’s forecast for a 15 per cent gain.

The trade surplus narrowed in September to $US28.47bn from nearly $US42bn the previous month, falling short of expectations for a $US37.3bn surplus. The trade surplus was the lowest in six months.

A rebound in China’s exports this year has helped support Chinese economic growth this year.

Dow Jones Newswires