Iron ore inventories at Chinese ports continue to rise gradually
On July 6, inventory of iron ore at 33 major Chinese ports amounted to 91.28 million mt, up 0.72 million mt or 0.8 percent compared to June 29, as announced by China’s Xinhua News Agency.
In the previous week ending June 29, inventories increased by 1.09 percent, as SteelOrbis reported earlier.
In the week ending July 6, import iron ore prices in China edged up slightly. Meanwhile, shipments from miners have increased.
The capacity utilization rates of blast furnaces in China almost remained in line with the previous week, while some regions issued policies restricting steel production, Tangshan in particular, which may put pressure on demand for iron ore. At the same time, supply of iron ore will likely improve further.