Iron ore inventory at Chinese ports up 0.8 percent

Wednesday, 07 July 2021 12:03:45 (GMT+3)   |   Shanghai
       

On July 5, inventory of iron ore at 33 major Chinese ports amounted to 115.34 million mt, up 0.8 percent compared to June 28, as announced by China's Xinhua News Agency.

During the given week, import iron ore prices have indicated some increases. The capacity utilization rates of blast furnaces in China declined sharply due to the 100th anniversary of the founding of Communist Party of China, resulting in reduced steel output, though production has already started to recover.

Commodity prices in the global market have showed signs of rising, supported by increased futures prices and the improvement in the steel market.


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