Inventory of Iron Ore Concentrate at Domestic Mines Increased in April

SHANGHAI, May 11 (SMM) - According to SMM survey, in April, the inventory of iron ore concentrate at domestic mines increased from 2.34 million mt or 9.4 days to 2.57 million mt or 10.3 days. The poor downstream demand for finished steel led to a slowdown in steel mills' demand for iron ore. In addition, some dressing plants were unwilling to sell amid the falling concentrate prices. As such, the overall concentrate inventory increased.

In May, it is expected that the concentrate stocks will continue to increase as the overall output of mines will increase while the steel enterprises will still mainly purchase as needed.