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

Chinese steelmakers have slightly reduced their iron ore consumption lately, signaling weaker appetite for steel production, according to the latest survey data from Mysteel. This pullback in usage has also curbed mills' procurement of the feedstock, leading to a drawdown in their inventories, Mysteel Global observed.

During June 11-17, the combined daily usage of imported iron ore sintering fines at the 64 blast-furnace (BF) Chinese mills under Mysteel's weekly survey dropped by 7,700 tonnes/day or 1.2% on week to 631,500 tonnes/day on average, ending a three-week rising streak. Mills' waning production enthusiasm stemmed largely from shrinking