Iron Ore Inventories at Chinese Ports Grow

Iron Ore

Iron ore stockpiles at 42 Chinese ports surveyed by U-Metal gained by 0.9 Mt in the week to 31 July to 114.2 Mt, the highest since early May. However, inventories were still down year-on-year (-4.3 Mt).

Meanwhile, steel inventories in major Chinese cities also edged up by 0.1 Mt on the week to 15.6 Mt on 30 July, U-Metal data show.