According to SMM research, iron ore concentrate inventory at domestic mines inched down from 1.1 million mt in September to 1.09 million mt or 4.4 days in October.
It is expected that stocks at mines will keep diminishing in November. Mines with an inventory build-up in October believed that inventories will still be under control. In addition, steel mills will increase the proportion of domestic ore with high cost-effectiveness.
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