Categories: World

UPDATE 1-China's iron ore imports hit a record high in September

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(Adds details, background throughout) BEIJING, Oct 13 (Reuters) - China's iron ore imports in September climbed 10.6% from the month before to hit a record high for a single month, as improving demand and higher prices spurred miners to step up shipments. The world's largest iron ore consumer brought in 116.33 million metric tons of the key steelmaking ingredient last month, staying above 100 million tons for a fourth straight month, data from the General Administration of Customs showed on Monday. The September volume, which beat analysts expectations of between 100 million and 106 million tons, was up from 105.22 million tons in August and also was 11.7% higher than 104.13 million tons in the corresponding month in 2024. Prices of the key steelmaking ingredient have gained ground and stayed above the key psychological level of $100 a ton from July, a level that could encourage high-cost miners to ramp up shipments, said analysts. The average price for iron ore rose by 5.3% in July from the previous month, and then climbed 2.5% in August and 3.6% in September, data from consultancy Steelhome showed. The gains reflected improved confidence in the steel sector stemming from Beijing's pledge to crack down on involution-style competition, or competition so fierce that it is self-destructive, in an industry battling overcapacity. Demand in top iron ore consumer China also rose after some mills resumed production following curbs for a military parade in early September. The average daily hot metal output, typically a gauge of ore demand, climbed to 2.42 million tons by end-September, from 2.4 million tons in late August, data from consultancy Mysteel showed. In the first three quarters of 2025, China's iron ore imports totalled 917.69 million tons, in line with the same period last year. (Reporting by Amy Lv and Lewis Jackson; Editing by Sonali Paul) (The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)
TDG Syndication
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