CHART: China imported a billion tonnes of iron ore in the last 12 months

Photo by Todd Korol/Getty Images

Chinese iron ore imports totalled 92.99 million tonnes in September, according to the nation’s Customs Bureau, the second highest monthly total on record.

The figure was up 6% on August, and 8% higher than the levels of a year earlier.

Not only that, it left cumulative iron ore imports over the past 12 months at a mammoth 1.017 billion tonnes.

Yes, that’s billion with a “B”, nearly 9% more than the levels imported in the year to September 2015.

A combination of increased infrastructure and residential property investment in China, along with high-cost mine closures in the nation, are just two factors that have contributed to the enormous growth.

There’s not much else to say but that it’s a lot of iron ore!

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.