SHANGHAI, Dec. 10 (SMM) – Iron ore Inventories at China’s ports are expected to grow this week due to poor demand and more arrivals, Shanghai Metals Market’s ferrous branch Steelease foresees.
Chinese steel mills will not increase spot purchases due to liquidity pressures, Steelease learns, reducing demand for port ores.
Last week, iron ore inventories at major Chinese ports were 101.32 million tonnes, down1.67 million tonnes on a weekly basis.
Steelease attributed the drop in inventories to falling arrivals of shipments and pick-up by mills.
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