General Administration of Customs latest data showed that China imported 90.65 million tonnes of iron ore in November.

The iron ore options started trading at the Dalian Commodity Exchange (DCE) on Monday.

General Administration of Customs latest data showed that China imported 90.65 million tonnes of iron ore in November.

From December 31, the measure will apply to all imports, including steel.

Nickel price trend on December 9th

American Iron and Steel Institute (AISI) reported that the U.S. imported a total of 2,177,000 net tons (NT) of steel in October 2019.

Through the first ten months of 2019, total and finished steel imports are 24,770,000 and 18,343,000 net tons (NT).

"It's a big mess and people are totally confused - all buyers prefer to import on a CFR basis as it's easy," a steel trader said.