China adjusts iron ore import supervision

As a global manufacturing country, China has long been the world's largest importer and consumer of iron ore. According to official Chinese data, China's iron ore imports in 2019 totaled 1.069 billion tons, an increase of 0.47% year-on-year, the second highest in the record, after 1.075 billion tons in 2017.
 
Among them, Australia is undoubtedly the largest supplier of iron ore in China. Statistics show that China's iron ore imports from Australia totaled 665 million tons in 2019, accounting for 62.21% of China's market share. In the first two months of this year, Australian iron ore exports to China increased slightly by 850,000 tons year-on-year. In March, the growth of Australian iron ore exports increased by 90% to China. This shows that the Chinese market Importance of ore export.
 
However, in order to optimize the quality supervision method of imported iron ore, the Chinese official issued an announcement on Wednesday (May 20) to adjust the iron ore import inspection and supervision method. The announcement pointed out that from June 1 this year, the current batch inspection of iron ore will be adjusted to apply for implementation by enterprises, and emphasizes that when necessary, Chinese officials will implement supervision and inspection and carry out toxic and hazardous element content monitoring.
 
In addition, an iron ore buyer or agent who needs an official iron ore import quality certificate needs to submit an application, and the customs will carry out on-site inspection and quarantine of the iron ore, and then carry out on-site sampling and laboratory testing. Issue a quality certificate. For those who do not need to issue a certificate, China will release it after passing the on-site inspection and quarantine.
 
It can be seen from this latest announcement that China's adjustment of the supervision of imported iron ore will on the one hand help to improve the quality of imported iron ore and thereby protect the interests of China's relevant enterprises; on the other hand, for iron ore such as Australia For large stone supply countries, this move will also help increase the speed of customs clearance of imported iron ore, thereby enhancing the level of trade facilitation.