Inventories of seaborne iron ore at Chinese ports resumed their downtrend this week, as demand improved. The inventories fell for nine weeks in the past 10 weeks.
SMM data showed that iron ore stocks across 35 Chinese ports decreased 300,000 mt in the week ended April 17 to 108.14 million mt, after an increase of 1.57 million mt in the prior week. The stocks were 20.55 million mt lower than a year ago.
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