Russia in the first half of 2022 reduced ore exports to China by 40%
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The export of iron ore products from Russia to China in the first half of 2022 fell by 40% to $478 million in monetary terms, follows from the data of the Main Customs Administration of China. The physical volume of exports of iron ore raw materials (IRR), according to Vedomosti’s calculations based on Chinese customs data, decreased less – by only 20% to 3.4 million tons.
This happened against the backdrop of a significant drop in iron ore prices in the first half of the year. Thus, the average quotations of iron ore (CFR China) in January-June 2022 decreased in annual terms by 26% to $135 per 1 ton.
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