* Nov iron ore imports up 12 pct y/y, nearly 14 pct m/m
* Imports of steel products climb 2.8 pct m/m
* Steel product exports rise 5.5 pct from Oct
(Updates with analyst comment in paragraphs 3-6)
BEIJING, Dec 8 China imported 91.98 million
tonnes of iron ore in November, up 13.8 percent from the
previous month and reaching one of the highest volumes on
record, official data from the country's customs authority
showed on Thursday.
The total was an increase of 12 percent from 80.8 million
tonnes in November last year and was the third highest month on
record, behind September's total of 93 million tonnes and the
all-time high of 96.26 million tonnes set in December 2015.
The jump was unexpected as steel mills have slowed output
ahead of the winter months, when demand for rebar for use in
construction typically slows.
Steel mills in the world's top steelmaking country have also
curbed output as surging costs of raw materials like coking coal
and iron ore have eroded profits.
"I think (the rise) just reflects some adjustments in terms
of arrivals after the holidays in October when some shipments
may have been postponed," said Helen Lau, analyst at Argonaut
Securities in Hong Kong.
"Otherwise there's no reason for a big rebound in iron ore
imports," she said.
Imports of iron ore hit 935 million tonnes in
January-November, setting it up to top 1 billion tonnes this
year and surpass the 2015 record of 952.84 million tonnes.
Imports of steel products rose 2.8 percent from the month
before to 1.11 million tonnes, while exports climbed 5.5 percent
to 8.12 million tonnes.
For more details, click on
(Reporting by Josephine Mason in BEIJING and Manolo Serapio in
MANILA; Editing by Joseph Radford and Tom Hogue)