China’s iron ore imports in October fell 17.5% from the previous month to the lowest level since February 2011 as steelmakers delayed shipments on the poor real estate market as well as worries over a double-dip’ recession in the global economy.

The country imported 49.94Mt of iron ore in October, up 9.2% over the same period of last year, according to the preliminary data released by the General Administration of Customs on Nov 22. The imports in the first 10 months totaled 557.93Mt, rising 11% year on year.

Meanwhile, spot iron ore prices have slumped around 30% since September following weaker demand from China.
Source: China Metals e-mail