Iron Ore Inventories at 35 Ports Declined for Three Consecutive Weeks

SHANGHAI, Mar 20 (SMM) - Iron ore inventories across 35 ports tracked by SMM totalled 133.12 million mt as of March 17, down 950,000 mt from a week ago, and down 16.23 million mt on the year, and, the inventory had dropped for three consecutive weeks. Daily average deliveries of imported ore from the 35 ports decreased 85,000 mt on a weekly basis to 2.91 million mt last week. The main reason for the decline in inventory is the increase in demand for raw materials at steel mills.