China's Iron Ore Imports Declined in November Amid Weak Seasonal Demand Expectations

In November, China's iron ore imports decreased by 1.91% compared to October, due to cold weather disrupting construction activities in the northern part of the country and the slow season for steel demand. According to data from the General Administration of Customs, the world's largest iron ore consumer imported 101.86 million tons of steel-making material last month. Imports had been 103.84 million tons in October and 102.74 million tons in November 2023. According to consulting company Steelhome, port stocks fell by 0.4% in November, ending the month at 148.5 million tons. Data shows that in the first 11 months of 2024, China's iron ore imports increased by 4.3% year-on-year to reach 1.124 billion tons.