China imported 58.95 million mt of iron ore from Australia in March, up 7.5% year on year and up 17.8% month on month, according to data released Wednesday by the General Administration of Customs.

Imports from Brazil, China’s second-largest iron ore supplier, rose 8% year on year to 19.12 million mt in March, and 5.1% from the previous month.

Iron ore supply from Australia represented 61.7% of China’s total imports in March, down 63.94% from February.

Iron ore prices remained firm in March as stronger steel margins fueled demand for steel feedstock.

More supplies from non-mainstream suppliers such as India sailed to Chinese ports in March.

Indian ore supplies reached 3.46 million mt in March, up from 0.81 million mt the year before, and up 29% month on month.

China, the world’s largest steel producer, imported 95.55 million mt of iron ore in March, up 11.4% year on year.

Source: Platts