China's iron ore imports fell for a second straight month in November, cust...
BEIJING - China’s iron ore imports fell for a second straight month in November, customs data showed on Sunday, as lower shipments from top miners in Australia and Brazil overshadowed firm demand for the steelmaking ingredient at mills.
For the first 11 months of 2019, iron ore arrivals reached 970.69 million tonnes, down 0.7% on an annual basis. “Miners are undergoing maintenance after a strong financial year,” Darren Toh, an analyst with Tivlon Technologies, said before the data was released. Despite seasonal factors, analysts remained optimistic about iron ore demand in coming months as profits recovered at Chinese mills after a pick up in construction in November.
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