China October iron ore imports lowest since February

iron ore

China imported 80.8 million tonnes of iron ore in October, the lowest since February and down 13 percent from the previous month, official data from China’s customs showed, as steel mills curtailed output amid tightening profits and soaring costs.

Compared with a year ago, shipments of the steelmaking ingredient were still up 7 percent.

Imports of steel products fell 4.4 percent to 1.08 million tonnes while exports fell 12.5 percent to 7.70 million tonnes, data from the General Administration of Customs showed.
Source: Reuters



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