China's domestic steel margins have slumped since the start of September due to high iron ore prices and a "correction" in finished steel prices, S&P Global Platts data shows.

Strong demand from the property sector was lending some support to long steel, aluminum and copper markets in September, market sources said.

Only 18% of respondents expected their iron ore requirements to increase in Q4.

This is because upward momentum in property and infrastructure, which account for over 55% of China's total steel consumption, has slowed.

The settlements for BF-grade pellet premiums are nearly flat with the previous quarter and lower by around $3/dmt for DR-grade pellets.

The 2010 ferrosilicon contract price on ZCE closed at 5644 yuan per ton on September 17.

This was a turnaround from four months of strong export sales to China from March to June.

The 2010 ferrosilicon contract price on ZCE closed at 5612 yuan per ton on September 16.