Iron ore inventory at Chinese ports almost stable

Thursday, 01 April 2021 12:09:15 (GMT+3)   |   Shanghai
       

On March 29, inventory of iron ore at 33 major Chinese ports amounted to 123.3 million mt, up 70,000 mt or 0.06 percent compared to March 22, as announced by China's Xinhua News Agency.

During the given week, import iron ore prices rebounded after the prevıous fall amid support from the steel market and the good outlook for steel demand in April. At the same time, more iron ore was arriving at Chinese ports. Capacity utilization rates of blast furnaces and electric furnaces have indicated some increases in China, exerting a positive impact on demand for iron ore. It is thought that import iron ore prices will fluctuate within a limited range in the coming week.


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