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Iron Ore Port Stocks in China Rise

Iron Ore, Steel

Iron ore inventories at 42 surveyed Chinese ports gained nearly 2 Mt in the seven days to 23 October to 123.8 Mt, the highest since February, U-Metal data show.

Meanwhile, steel inventories in major Chinese cities declined for a second week in a row, falling 0.7 Mt to 13.9 Mt on 23 October, according to U-Metal. Nonetheless, this was above the 9.9 Mt held in the same week of 2019.