China’s weak steel, strong iron ore imports shaped by prices

With the evident weakness in steel, it’s perhaps surprising that imports of iron ore have held up so far in 2024. — Reuters

CHINA’S steel and iron ore sectors are in an apparent state of disconnect, with steel output trending weaker but imports of the key raw material remaining firm.

Production of crude steel slumped 6.1% in August from July, dropping to 77.92 million tonnes, according to data released by the National Bureau of Statistics on Saturday.