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China’s iron ore imports jump by 29% from 8-month low

It’s reported that China’s imports of iron ore in November increased by 29% from an 8-month low, driven by steelmakers’ replenishment of stockpile after prices dropped.

According to statistics released by General Customs, China imported 64.2 million tons of iron ore in November, much higher than 49.94 million tons in October.

Meanwhile, it’s known that iron ore prices slumped by 31% in October due to China’s credit tightening and slow demand from builders and automakers.

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