Iron ore inventory at Chinese ports up 4.4%
Inventory of iron ore at 33 major Chinese ports amounted to 125.29 million mt, up 4.4% compared to September 27.
During the given period, import iron ore prices indicated a rebounding trend even despite the increasing volume of iron ore arriving in the market.
The production restrictions eased to some degree in the given period, resulting in higher steel outputs, which bolstered iron ore prices.
However, demand for steel will continue to be curbed amid the restrictions on carbon emissions.
It is thought that import iron ore prices may fluctuate within a limited range in the near future.