WEEKLY: China mills' imported iron ore stocks fall to YTD low

Chinese steelmakers have shown a weaker appetite for restocking imported iron ore recently, as they started to trim their production in view of the upcoming low season for steel demand in summer. As a result, imported iron ore stocks held by Chinese mills have slipped further, according to Mysteel's survey.

By May 28, inventories of imported iron ore sintering fines held by the 64 Chinese steel mills under Mysteel's weekly tracking had dropped for the second straight week to 12.1 million tonnes, down by 330,000 tonnes or 2.6% on week and marking the lowest level since the beginning of