Nov iron ore imports down 1.91 mm, down 0.86 yy
JanNov iron ore imports up 4.3 yy
JanNov steel exports up 22.6 yy
JanNov steel imports down 11.3 yy

BEIJING, Dec 10 Reuters China39;s iron ore imports in November fell 1.91 from October, customs data showed on Tuesday, as shipments slowed ahead of the slow season for steel demand when colder weather disrupts construction work in the country39;s north.

The world39;s largest iron ore consumer imported 101.86 million metric tons of the steelmaking ingredient last month, data from the country39;s General Administration of Customs showed. This was down from 103.84 million tons in October and lower than the 102.74 million tons in November 2023.

The trend is in line with our expectations as pressure on miners to lift shipments to achieve annual targets has eased after a wave of high shipments earlier this year, said Pei Hao, an analyst at international brokerage Freight Investor Services FIS.

Ore demand did pick up last month, but that was mainly reflected in the drawdown in portside inventory.

Portside stocks fell 0.4 during November to stand at 148.5 million tons late in the month, data from consultancy Steelhome showed.

December imports will likely rise as some miners ramp up shipments to meet annual targets, said Jiang Mengtian, an analyst at consultancy Horizon Insights.

In the first 11 months of 2024, China39;s iron ore imports climbed 4.3 from the year before to 1.124 billion tons, the data showed.

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