For the first seven months of the year iron ore imports rose 6.7%, and if August's official numbers are in line with the Kpler estimate, this pace of growth is likely to increase.
Up 6.7% for same period last year, and last year was an all time record with 1.18 billion tonnes being imported.
From the graph above there is a tendency for imports to increase when price is lower and vis a versa.
Interesting to see where the red line heads next, if we follow the cyclic pattern as shown on the graph, then it may well soon be heading up.
Iron ore demand, page-17
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