Chinese September iron ore imports increased m-o-m while the spot price also rose over previous months.

But looking at the reduction in steel production in recent months, both iron ore import and the spot price will be under pressure for the rest of the year.

The spot iron ore price also rose rise in September, mainly because of tight supply. Some importers said that exports from India were curtailed due to the monsoon season forcing ports to close.

The resultant tight supply allowed some iron ore sellers to raise prices.

Source China Metals e-mail