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