WEEKLY: China mills' imported iron ore stocks pick up

Inventories of imported iron ore sintering fines stockpiled at the 64 Chinese steel mills under Mysteel's regular monitoring rebounded by 55,300 tonnes or 5% on week to 12.7 million tonnes by February 19, ending two consecutive weeks of declines after the Chinese New Year (CNY) holiday, Mysteel's latest survey results showed.

The mild rise in the stocks of imported sintering fines was partly attributed to lower consumption of the feedstock among integrated steel mills in the past week, as some of them started to rein in production in response to their shrinking profit margins, Mysteel Global notes. For instance, the daily hot