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China's iron ore imports remained firm in September, marking the third-highest volumes so far this year, although it fell from the near three-year high in August.
China's September iron ore imports were at 101.18mn t, down by 4.9pc on the month but up by 1.6pc from a year earlier. January-September iron ore imports totalled 876.65mn t, up by 6.7pc from a year earlier, according to Chinese customs data.
But Brazilian iron ore exports hit a record high in August, with exports also previously rising in July. Brazilian exports that loaded over second-half July and first-half August will possibly arrive in China in September, offsetting lower exports from Australia and keeping China's September import volumes firm.
China Iron and Steel Association (Cisa) member mills crude steel output rose in early September, before falling in mid-September and late September as Chinese mills' losses widened. Cisa data include information from more than 100 of the country's largest steel mills.
Iron ore prices continued their uptrend in first-half September, but softened and fell in the second half of the month. The Argus 62pc ICX iron ore cfr Qingdao index was at $119.05/dry metric tonne at the end of September, up by 1.3pc from a month earlier. Argusmedia
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