China's production of steel kept up a frantic pace set in October, with output up a further 2.2% in the first week of November.

Iron ore stockpiles rose at 25 major ports in China last week with inventories of imported iron ore at 79.48 million tonnes at the end of the November 12 to November 18 period.

The iron ore price for China 62% grade Fe rose to US$137.00 a tonne. China's average daily crude steel output rose in first 10 days of November to reach 2.144 million tonnes.