China Nov iron ore imports soar to one of the highest levels on record

Reuters report shows China's iron ore imports rebounded in November to one of the highest levels on record.

Iron ore shipments rose 18.9 percent to 94.54 million tonnes in November from the previous month. On an annualized term, iron ore imports increased 2.8 percent from a year ago.

As per China Metallurgical Industry Planning and Research Institute (MPI), China's iron ore demand could climb 1.3 percent in 2017 to 1.122 billion tonnes but may dip 0.2 percent to 1.12 billion tonnes in 2018.