Iron ore inventory at Chinese ports stabilizes

Wednesday, 18 August 2021 11:17:08 (GMT+3)   |   Shanghai
       

On August 16, inventory of iron ore at 33 major Chinese ports amounted to 116.79 million mt, down just 0.09 percent compared to August 9, as announced by China's Xinhua News Agency.

During the given week, import iron ore prices have indicated slight declines amid the increasing volume of iron ore arriving in the market. The capacity utilization rates of blast furnaces and outputs at Chinese mills both increased slightly. However, the strict production restrictions imposed on steelmakers may cause customers to purchase only as needed, which will result in their unwillingness to build up stocks. It is thought that import iron ore prices may edge down slightly in the coming week.


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