Iron ore inventory at Chinese ports up 0.99 percent

Thursday, 11 August 2022 10:48:11 (GMT+3)   |   Shanghai
       

On August 8, inventory of iron ore at 33 major Chinese ports amounted to 127.0988 million mt, up 0.99 percent compared to August 1, as announced by China's Xinhua News Agency.

Import iron ore prices edged down in the given week.

In the given week, deliveries of iron ore to users increased, especially with significant rises seen in deliveries of Brazilian ore, while iron ore volumes arriving at Chinese ports also increased.

Capacity utilization rates of blast furnaces in China increased further, which stimulated demand for iron ore. However, the rising iron ore volumes at ports exerted a negative impact on prices. It is expected that import iron ore prices may soften slightly in the coming week.


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