China’s iron ore import growth is expected to turn negative in August m/m following July’s 5.3% increase, analysts from the Shanghai Metals Market said in a note on Thursday.

Inbound shipments will slow on softer steel demand during the off-season and steel mills reducing loss-making production. Additionally, some international mines are conducting maintenance which has cut shipping volumes.

Imports increased in July as overseas miners ramped up end of quarter deliveries, along with strong pig iron output and a fall in iron ore prices, the analysts noted.