China iron-ore imports surge to 20-month high as steel demands soar

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China iron-ore imports surge to 20-month high as steel demands soar

Despite a withering downturn of global economy with manufacturing indexes across the globe including market leaders likes of Germany, China and the United States, leading the shortfall, China, the second-largest economy in the world had reported a robust upsurge in its iron ore import for the third straight month in a row in September, China's official customs data had revealed on Monday, the 14th of October 2019.

On top of that, according to China's custom data released earlier on Monday (October 14th), China's iron-ore import had spiked to a 20-month high in September despite a sharp plunge in manufacturing activity, which came as a surprise to many.

Meanwhile, an official of Chinese customs had been quoted saying on Monday (October 14th) following reveal of the surprise boost in iron-ore import that the upsurge in iron-ore was almost entirely catalyzed by a buoyant firm demands at steel mills alongside stable shipment from big-league miners.

Aside from that, according to China's customs data revealed earlier on Monday (October 14th), world's top consumer of iron-ores, China, had imported roughly 99.36 million tons of iron-ores last month which had been the Central Asian nation's largest purchase since January 2018, remarking an upsurge of 4.8 per cent from August's import of 94.85 million tons.