Major Sea Ports Maintain Iron Ore Inventories


News: China's major sea ports have stocked 85-86mn metric tonnes of iron ore, which should enable steel mills to stabilise prices of imported iron ore, reports Platts, citing the China National Development and Reform Commission. The inventories are thought to be adequate for local steel mills to produce steel on monthly basis. Readily available iron ore supplies at Chinese ports will also reduce the impact of possible disruptions to iron ore shipments from Australia and Brazil that often occur in the first quarter each year, according to a Beijing-based iron ore trader.

This article is tagged to:
Sector: Shipping
Geography: China