Iron Ore Inventory at Ten Chinese Ports to Fall Further

SHANGHAI, Mar 31 (SMM) - Pig iron output increased this week with the production resumption of blast furnaces, driving up the fine consumption. The operating rates of the pellet plants were relatively stable, which still support the concentrate demand. The high pig iron output will still beef up the iron ore demand next week. SMM expects that the port inventory at ten Chinese ports will fall further considering that overseas supply is unlikely to balloon in the short term.