BEIJING - Stockpiles of imported iron ore at 25 major Chinese ports last week rose for a sixth consecutive week due to flagging demand, new data showed Tuesday.
At the end of the week ending Monday, inventories of imported iron ore reached 105.86 million tons, up 0.2 percent from a week earlier, according to a Xinhua-China Iron Ore Index report.
The stockpiles have increased since Feb 11.
The price index for iron ore imports with a 62-percent purity grade was flat from the previous week at 109, the report showed. Prior to last week, the price has dropped since Jan 7.
The report said the market witnessed slack trading last week, as investors were worried about further falls in price.
Steel companies are confronting flagging demand, so they will likely continue to push for lower iron ore prices, the report forecast.
|
 |
 |
| Steel sector still facing profitability problems | China seeks more influence in setting iron ore prices |
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263 Registration Number: 20100000002731 
