Iron ore inventory at Chinese ports up 0.58 percent

Friday, 09 April 2021 15:44:29 (GMT+3)   |   Shanghai
       

On April 5, inventory of iron ore at 33 major Chinese ports amounted to 124.02 million mt, up 72,000 mt or 0.58 percent compared to March 29, as announced by China's Xinhua News Agency.

During the given week, import iron ore prices have improved and have been fluctuating in the limited price range by the end of this week amid strong local steel market. Capacity utilization rates of blast furnaces and electric furnaces in China have indicated decreases, negatively affecting the demand for iron ore. However, due to the booming construction activities in April, the demand for iron ore in those regions which will not implement production restrictions will be good, likely bolstering its prices in the near future. 


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