No. 2 iron-ore miner Vale said the outlook for China’s steel-intensive property sector is “more encouraging” despite uncertainties, and reiterated its long-term view of the global steel market remains intact.

The company reported total iron ore sales of 3.54 million mt during the month, up 25 percent year on year.

During the period, China imported a total of 669 million tons of iron ore, up 6.9 percent from the same period last year, according to the data.

From January to July, the province's trade with countries along the Belt and Road rose 9.8 percent year-on-year to 116.23 billion yuan.

A technical refresh of the Buena Vista feasibility study has shown that the project could be moved to a 24/7 operating model and could increase its potential output from 450 000 t/y to 800 000 t/y at the same capital outlay.

Demand for Fortescue’s products has remained strong all year. This is the result of steel mill profitability as well as the consistent quality of delivered product and the low variability of Fortescue ores.

Iron-ore junior Magnum Mining & Exploration will evaluate stockpiles at its Buena Vista project, in Nevada, as potential mill feed.

Brazilian mining giant Vale SA has vowed to step up investment in low-carbon solutions along the steel value chain in China, according to its top executive.