WEEKLY: China mills' imported iron ore stocks build faster

Inventories of imported iron ore sintering fines held by Chinese blast-furnace (BF) steelmakers rose further during December 25-30, an indication of steel mills' replenishments of the feedstocks ahead of the month-away Chinese New Year (CNY) holiday to ensure sufficient raw material supply, Mysteel Global noted.

Total stocks of imported iron ore sintering fines at the 64 Chinese BF steel producers under Mysteel's tracking stood at 12.6 million tonnes on December 30, up by 554,700 tonnes or 4.6% from the level on December 24, the latest survey results showed. The pace of accumulation accelerated from