WEEKLY: China mills' import iron ore stocks dip amid cautious buying

Chinese steelmakers have consumed more imported iron ore fines to meet their higher production needs, but their stocks of the raw material fell slightly as mills were cautious about purchasing in response to higher ore prices, Mysteel's latest survey showed.

The combined daily usage of imported sintering fines among the 64 Chinese blast-furnace (BF) steelmakers tracked by Mysteel averaged 620,900 tonnes/day during April 16-22, up 7,500 t/d or 1.2% from the previous week. Domestic steelmakers have been ramping up their production since late March, as steel demand from end-users is