- China's crude steel output totaled 2.15 million tons per day in the last 10 days of September, or an annualized 784.75 million tons, which was up 0.4% from the previous 10-day period, according to China Iron & Steel Association. The increase was driven by large and midsized mills whose total daily output was up 0.5% to 1.79 million tons during the period. Inventory at major steel mills stacked up to 12.61 million tons at the end of September, down 4.6% from a month earlier.
- China's iron ore imports rose 9% year on year to 600.49 million tons in the first 9 months, according to customs figures.
- Iron ore prices will keep falling in China as steel production is to remain weak and supply of raw materials outstrips demand, the China Iron & Steel Association said. Poor economic benefits and seasonal factors are expected to trim steel production and hence lower demand for and prices of iron ore.
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