WEEKLY: China mills' import iron ore stocks, usage both rebound

Chinese steelmakers have accumulated more imported iron ore fines in their stocks recently in response to higher consumption of the raw material, as steel demand recovery has prompted them to ramp up production, Mysteel's latest survey showed.

Inventories of imported iron ore sintering fines among the 64 Chinese blast-furnace (BF) steelmakers tracked by Mysteel increased by 360,500 tonnes or 2.8% on week to 13.45 million tonnes by April 15. Mills' enhanced efforts to build up their iron ore inventories were mainly driven by their growing demand for