China's iron ore output starts to slow

摘要

China's production of unprocessed iron ore growth slowed in October in response to stricter steel output curbs during the 70th anniversary of the People's Republic of China and Golden Week holidays at the start of the month. Weaker seaborne iron ore spot prices also brought some pressure to domestic producers, especially higher cost miners. Crude iron ore production rose by 3.2% on year in October to 78 million mt, National Bureau of Statistics data showed. This compares with 8.5% growth and 77.4 million mt output in September. Year to October output reached 711.60 million mt, up 6.5% on year. Though this marked a 22-month high, the pace of growth slowed compared with the previous month.