Iron Ore Stockpiles at Chinese Ports Fall

Iron Ore, Steel

Iron ore inventories at 42 surveyed Chinese ports fell by 0.6 Mt week-on-week to 105.6 Mt on 12 June, according to U-Metal, a level last witnessed in late 2016.

Meanwhile, U-Metal data show that steel inventories in major Chinese cities dropped by 0.4 Mt on the week to 14.5 Mt on 12 June, the lowest since January. Nonetheless, stockpiles were still above an average 11.2 Mt held in June 2019.