China breaks ground on major underground iron ore mine project

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Looking ahead, we believe economic growth will be a crucial priority for China, as the country has emphasized the importance of economic development, focusing on high-quality, balanced and inclusive growth.

Freight volume has seen stable monthly growth, with October hitting a high of 1.35 million tons, it said. Trade along the railway covers countries such as Laos, Thailand, Malaysia, Vietnam, Cambodia and Singapore.

A high backwardation continued to dampen import appetite, leading to thin liquidity, although offers were quoted higher.

Since its first iron ore shipment to China in 1973, Rio Tinto has supplied China with more than 3.5 billion tons of high-quality iron ore.