Iron ore inventory at Chinese ports down 2.69 percent

Friday, 17 June 2022 12:12:06 (GMT+3)   |   Shanghai
       

On June 13, inventory of iron ore at 33 major Chinese ports amounted to 119.1043 million mt, down 2.69 percent compared to June 6, as announced by China's Xinhua News Agency.

Import iron ore prices edged down in the given week. However, the inventory levels decreased in the period in question, while the deliveries of iron ore to users and iron ore volumes arriving at ports also declined. In the given period, iron ore futures prices at Dalian Commodity Exchange indicated continuous decreases, signaling market players' bearish sentiments.

Capacity utilization rates of blast furnaces in China have risen week on week as steelmakers have been seeking to produce more. Since some steelmakers have been incurring losses, they may try to reduce purchase prices for iron ore. It is thought that import iron ore prices may fluctuate within a limited range in the coming week.


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