According to Chinese customs authorities August figures, Chinese imports of coal and iron ore amounted to 28.0 MMT and 97.4 MMT, which is down 7% MOM and up 10% MOM, respectively.

For coal, August imports were up 35% YOY but down 15% compared to 2019 and has YTD declined 10%. Seemingly, Chinese coal imports are thus far following the H2 pattern of 2019-2020 and is YTD 1% above its four-year historical average.

For iron ore, August imports were down 3% YOY but up 3% compared to 2019 and has YTD declined 2%. Disregarding current regulatory pressure on Chinese steelmakers, China’s iron ore imports usually sees a stronger H2, with recent figures pointing to a similar trend for 2021. YTD, Chinese iron ore imports are up 5% compared to its four-year historical average.