Iron Ore Stockpiles at Chinese Ports Decline

Iron Ore

Iron ore inventories at 42 Chinese ports surveyed by U-Metal fell by 1.7 Mt on the week to 106.7 Mt on 29 May, the lowest since November 2016. Stockpiles have declined by 10.1 Mt since 17 April.

At the same time, steel product inventories in major Chinese cities were also down on the week to 15.5 Mt on 29 May (-0.6 Mt), U-Metal data show.