According to statistics from the General Administration of Customs of China, the country imported around 91.6 million tons of iron ore in October, down by 4.2% compared to the previous month, which has fallen for two months in a row.

The decrease in iron ore imports was due to steel production restrictions, which also weakened the demand for raw materials.

Owing to the decline in steel production, China's iron ore imports were expected to fall by 5%-7% in the second half of this year. The imports of iron ore in the first ten months of this year amounted to around 933.48 million tons, down by 4.2% year on year.

In the next few years, the demand for imported iron ore will be affected by limited crude steel production, which was restrained by China’s energy consumption control.