WEEKLY: China mills' imported iron ore stocks draw down

Inventories of imported iron ore sintering fines held by Chinese blast-furnace (BF) steelmakers declined during January 1-7, mainly due to mills' continued consumption of internal feedstocks while having limited access to replenishment during the New Year's Day holiday over January 1-3, Mysteel Global notes.

By January 7, total stocks of imported iron ore sintering fines at the 64 Chinese BF steel producers under Mysteel's tracking fell by 317,400 tonnes or 2.5% on week to 12.3 million tonnes, ending a two-week increase. Domestic steel mills' efforts to build up raw material stocks ahead of long