China’s September iron ore imports climbed to a record 116.33 million tonnes, up 10.6% month-on-month, extending a four-month streak above 100 million. Strength came from steel mills’ restarts and firmer prices, while exports of finished steel also advanced. The volume spike influences bulk freight rates and miners’ realized pricing, with implications for Asia metals sentiment. Traders will assess whether demand holds as policy and property stimulus evolve, and how supply adjustments from majors affect forward spreads.