In 2012, China exported 55.73 million mt of finished steel, up 14 percent year on year, as announced by the Chinese customs authorities on January 10. During the same period, China imported 740 million mt of iron ore, increasing by 8.4 percent year on year, at an average price of $128.6/mt, down 21.6 percent year on year. In addition, China's coal imports in 2012 amounted to 290 million mt, up 29.8 percent, at an average price of $99.5/mt, down 7.4 percent, both year on year.