WEEKLY: China's steel mills ramp up ore stockpiling ahead of holiday

With less than two weeks left before the 9-day Chinese New Year (CNY) holiday begins on February 15, domestic steel mills have accumulated a large amount of imported iron ore stocks with their active pre-holiday buying, Mysteel's new data show.

By February 4, inventories of imported iron ore sintering fines at the 64 Chinese blast-furnace steel producers under Mysteel's tracking increased for the fourth straight week to reach 17.8 million tonnes, higher by 10% on week and by a more significant 40% on year. Chinese steelmakers would keep themselves well