China has a large market for solid minerals such as coal and iron ore used in their smelting industries, and Chinese steel Mills. Despite the high demand resulting in large quantity, over 25.86 million tons in August 2022 alone were imported into China's market.
There is a chap fall from buyer's according to official data from General Administration of Customs of China. The chap drop was estimated as 18% on monthly basis.
REASON: The reasons were not unconnected with possibility of import restrictions especially with high ash content and high sulphur which serves as a way of aiding those on a growing lists of loss, making-miners. Iron ore on the other hand declines by 9% in August from 89.88 million tons in previous years.
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