MONTHLY: China's import iron ore prices to ease in Nov

China's imported iron ore market is set for a softer November, with both supply and demand expected to weaken amid slower global shipments and lower domestic hot metal output, according to Mysteel's latest monthly report on the commodity. As supply continues to outstrip demand, prices for imported iron ore are likely to trend downward, the report predicts.

Imported iron ore prices were on a roller-coaster ride during October, increasing initially – driven by active replenishment by steelmakers after China's National Day holiday – and then falling as blast furnace production declined. Yet, the last few days of October saw the prices rebound, as the easing of