WEEKLY: China mills' imported iron ore stocks jump 14% WoW

Inventories of imported iron ore sintering fines held by Chinese blast-furnace (BF) steelmakers increased faster during the past week, a reflection of the intensified efforts among steelmakers to build up their raw material inventories in the lead-up to the Chinese New Year (CNY) holiday in mid-February.

During January 22-28, total stocks of imported iron ore sintering fines at the 64 Chinese BF steel producers under Mysteel's tracking increased by a substantial 1.9 million tonnes or 14% on week to 16.1 million tonnes, touching the highest level in more than three years. Domestic steelmakers accelerated their iron