Chinese imports ofiron ore hit a 20 month peak in the month of September with steelmakers going out on a buying spree as spot prices bottomed out.

Trade data released by China's General Administration of Customs over the weekend fortified hopes for the Asian giant's economy, revealing that total exports gained 9.9% year on year in September.

China's iron ore imports leaped 4.1% to 61.01 million tonnes to tap their highest levels since January 2011. Steelmakers in the PRC bought up imported ore in lieu of dearer domestic product as international spot prices bottomed out.

The figure for copper shipments were also favourable, up 11% month-on-month at 394,837 tonnes.

These rosy commodities trade figures belie persistent weakness in the Chinese market, however, with the China Iron and Steel Association saying that the iron ore is still beset by oversupply due to declining steel production for a third consecutive month.