WEEKLY: China mills' imported iron ore stocks dip amid cautious buying

Chinese steelmakers trimmed their purchases of imported iron ore last week even though their production remained elevated, resulting in a decline in in-plant ore inventories, according to Mysteel's latest survey.

During the week of May 15-21, the combined consumption of imported iron ore sintering fines among 64 Chinese mills under Mysteel's weekly survey averaged 597,600 tonnes/day, higher by 0.2% week on week. While the traditional summer lull is approaching for China's steel market, domestic steelmakers have maintained peak output levels