Iron ore imports by China this year are on course to exceed one billion tonnes by a comfortable margin, breaking the 2016 record, after figures for the first half showed another jump in cargoes and highlighted the ability of the largest steelmaker to absorb rising seaborne supplies. More From Livemint »Shipments in June were 94.7 million tonnes (mt), up from 91.5mt in May, according to customs data on Thursday. In the first six months, imports rose to 539mt, 9.3% higher than the same period in 2016. Last year, China only just beat the one billion tonne-mark, importing 1.024 billion tonnes. “We project 34% of cars on the road will be EVs by 2040—530 million EVs in total—which will displace up to 8 million barrels of transportation fuel per day,” BNEF said in a report.

Source: Mint July 13, 2017 20:26 UTC