Iron ore inventory at Chinese ports up 0.73 percent

Wednesday, 08 September 2021 14:37:40 (GMT+3)   |   Shanghai
       

On September 6, inventory of iron ore at 33 major Chinese ports amounted to 121.04 million mt, up 0.73 percent compared to August 30, as announced by China's Xinhua News Agency.

During the given week, import iron ore prices fluctuated within a limited range before dropping below $130/mt CFR again. The iron ore stock build-up has reflected cautious demand from Chinese mills and stable supply. The production restriction policy will continue, which will exert a negative impact on import iron ore prices, though demand may be better in the traditional peak season in September and October. It is thought that import iron ore prices may edge up in the coming week after their recent fall, but no sharp rises are expected as demand overall will remain at reduced levels.


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