Iron ore inventory at Chinese ports mostly stable

Friday, 30 April 2021 11:23:50 (GMT+3)   |   Shanghai

On April 26, inventory of iron ore at 33 major Chinese ports amounted to 125.07 million mt, up 12,000 mt or 0.09 percent compared to April 19, as announced by China's Xinhua News Agency.

During the given week, import iron ore prices have increased sharply amid less iron ore arriving in the market and the rising capacity utilization rates of blast furnaces and converters in China despite the restrictions in Hebei. Most steelmakers were building up stocks ahead of the Labor Day holiday (May 1-5), resulting in a high level of demand for iron ore.

The China Iron and Steel Association (CISA) has urged the relevant government departments to take effective measures to ensure iron ore supply and curb its continuing rising trend. It is thought that import iron ore prices may fluctuate within a limited range in the near future. 

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