Mining, Steel Stocks Rally On China's 'Flight To Quality,' Kobe Steel Crisis

Mining stocks such as Australian giant BHP Billiton (BHP) are surging Friday on the release of strong Chinese import data, even as the longer-term picture of demand remains mixed. U.S. Steel (X) and other U.S.-traded steel charged higher as well on the Chinese numbers, but also on the growing scandal regarding Kobe Steel's data cheating.

XAutoplay: On | OffChina in September imported more than 100 million tons of iron ore, a roughly 16% gain month over month, the new data showed.

The...

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