Iron ore inventory at Chinese ports up 2.8 percent

Wednesday, 29 July 2020 14:33:10 (GMT+3)   |   Shanghai

On July 27, inventory of iron ore at 33 major Chinese ports amounted to 95.85 million mt, up 2.61 million mt or 2.8 percent compared to July 20, as announced by China's Xinhua News Agency.

Over the past week, import iron ore prices in China edged down slightly amid increasing iron ore shipments from the main Australian miners and rising volumes of iron ore arriving at Chinese ports. Meanwhile, the capacity utilization rates of blast furnaces in China increased compared to the previous week, providing steady demand for iron ore. However, the fluctuations in the financial markets have affected iron ore prices and this impact will likely continue in the coming week.

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