Iron ore imports hit record in 2020

China's iron ore imports hit a record 1.17 billion metric tons in 2020, with the average import price up 7.3 percent year-on-year to $101.7 per ton, which analysts say reflects robust demand in the downstream steel market and a continued and stable recovery of the Chinese economy.

The amount exceeded the previous record of 1.08 billion tons in 2017, said the General Administration of Customs.

The corresponding value of imported iron ore also hit a record 822.87 billion yuan ($127 billion) last year, an increase of 17.4 percent year-on-year, also a record.