China’s Iron Ore Imports Close 2025 Strong

China’s iron ore imports closed 2025 on a strong note, showing resilience after a slow start, notably affected by Australian cyclone-related disruptions. According to China Custom data, China imported 1.26 bln mt of iron ore in 2025, up 1.8% y-o-y, with an average import price of $107.1/t, down 8.8% y-o-y, indicating a clear downward shift in the price level.

China’s 2025 iron ore imports were supported primarily by major seaborne suppliers. According to AXSMarine, in 2025, China imported 805 mln mt from Australia, up 21 mln mt or 2.7% y-o-y, and 285 mln mt from Brazil, up 6 mln mt or 2.3% y-o-y, providing substantial seaborne supply increment and supporting shipping demand.

Imports from West Africa also increased moderately to 23.7 mln mt, up 3.2 mln mt or 15.6% y-o-y. In contrast, shipments from West Coast South America fell to 28.4 mln mt, in part due to Peru port infrastructure disruptions, while other sources collectively decreased slightly to 135.3 mln mt. Beyond these mainstream seaborne suppliers, Mongolia, as a land-based source, continues to expand exports to China. While these volumes remains modest at 8.8 mln mt, annual growth reached 17.2% y-o-y, according to Mongolian Customs data.