WEEKLY: China mills' import iron ore stocks slip further

Chinese steelmakers' buying interest in imported iron ore has been modest after the drawdown during the Chinese New Year holiday, partly as some integrated mills in North China have faced production curbs. Consequently, a further drop has been observed in mills' in-plant iron ore stocks, Mysteel's latest survey showed.

By March 4, inventories of imported iron ore sintering fines held by the 64 Chinese blast-furnace steel producers under Mysteel's tracking fell by 541,400 tonnes or 4% on week to 13.1 million tonnes. This followed a significant decline of 4.7 million tonnes or 25.5% during the nine-day CNY holiday