Arab Today, arab today china\s imported iron ore stockpiles rise for sixth week
Last Updated : GMT 15:29:37
Arab Today, arab today
Arab Today, arab today

China\'s imported iron ore stockpiles rise for sixth week

Arab Today, arab today

Arab Today, arab today China\'s imported iron ore stockpiles rise for sixth week

Beijing - XINHUA

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 tonnes, 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.

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