China Iron Ore Imports Fall

Reuters reported China’s imports of iron ore fell for the fourth time in five months as refineries and steel mills cut output due to slackening demand.

As quoted in the market news:

China is the top buyer of iron ore, coal and several industrial metals. Investors and miners around the world rely on Chinese appetite for imports to prop up commodities prices struggling with sluggish demand in the United States and Europe.

Copper imports in July were 366,548 metric tons (404, 050), while those of iron ore dipped to 57.87million metric tons.

Click here to read the full Reuters report.