China Iron Ore Inventories at Ports Grow Drastically in December

SHANGHAI, Dec. 30 (SMM) - China’s iron ore inventories at ports reached 91.56 million tonnes in late December, up 5.56 million tonnes from a month earlier, SMM data show.

These inventories are sufficient to 33 days of pig iron production, up 3 days, basing on November’s pig iron output.

Iron ore port inventories should stay high in January, SMM days. Overseas mines stepped up shipments in the first half of December. Australia and Brazil slowed delivery in late December due to the Christmas holiday, though. 

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