China Buys More Iron From Abroad as Steel Exports at Record
- Iron ore imports climb to highest this year before holiday
- Steel shipments jump as producers seek out overseas markets
Commodities: Is Steel Still Tough Enough?
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Iron ore imports by China increased to the highest level this year in September to near a record as purchases picked up before a holiday and the biggest miners in Australia and Brazil boosted shipments. Steel exports from the top producer hit an all-time high.
Inbound iron ore cargoes were 86.12 million tons in September, the highest since December, from 74.1 million tons a month earlier and 84.7 million tons in September 2014, according to customs figures on Tuesday. Purchases totaled 699 million tons in the first nine months, little changed from a year earlier, the data showed. The record for imports was set in December at 86.85 million tons.